Word: servicesal
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Sukhdev, who's also Study Leader for a UNEP initiative called The Economics of Ecosystems and Diversity (TEEB), says that currently "the economic value attached to nature is zero. Our metrics are geared toward consumption and production of man-made goods and services, and we tend to gloss over nature...
What kind of value are we talking about? According to research cited in the TEEB report, an annual investment of $45 billion to biodiversity conservation worldwide could safeguard about $5 trillion in ecosystem services - a benefit to cost ratio of 100 to 1.
"The reason we're losing natural capital is because it's free," says Ed Barbier, noting that we often think of conservation in terms of its costs rather than its value, and regard manufactured goods in terms of value rather than their environmental costs. Says Barbier: "When we incorporate the...
According to Costanza, we need different institutions for managing natural capital because of its "public good" aspects. For example, there are systems of payments for ecosystem services, such as compensating farmers who plant trees for carbon sequestration. These could be embedded in common asset trusts, set up to assign property...
Like most elections, Iraq's is in part a referendum on the incumbent, Prime Minister Nouri al-Maliki, who is running on his record of bringing security and normal life back to Iraq. Originally chosen as a compromise candidate by rival Shi'ite leaders who expected him to be a...