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Valuing ecosystems – can it help business make better decisions?. 1 Pollination. The total economic value of insect pollination worldwide? €49 Billion €153 Billion €387 Billion TEEB, 2010. Synthesis. 2 Deepwater Horizon Damages.
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The total economic value of insect pollination worldwide?
TEEB, 2010. Synthesis
Value oftheecosystemservicesthatare lost due totheDeepwaterHorizonoilspill in presentvalue (3.5% discount rate)?
Source: Costanza, R., Batker, D., Day, J., Feagin, R.A., Martinez, M.L., Roman, J., 2010. The Perfect Spill: Solutions for Averting the Next Deepwater Horizon.
Mangroves provide coastal protection for free. How much would it cost to replace this function?
US$1.320 per ha
US$3.679 per ha
US$5.235 per ha
Source: Sathirathai, S., Barbier, E. (2001), Valuating Mangrove Conservation in Southern Thailand
PUMA calculated the environmental costs in 2010 for water, GHGs, land-use, air pollution and waste production for the entire production process globally. How high werethosecosts?
275 Million Euro
145 Million Euro
71 Million Euro
The environment is considered a public good
It can be used and destroyed at no cost
Valuation can help to internalize adverse impacts and foster sustainable behaviour
Biodiversity & Ecosystem Services (BES) are very complex, hard to measure, harder to value …..
Should everything be valued?
What happens to the species with „no value“?
We are at a very early stage, but the instrument CEV has great potential:
raise awareness among companies for the value of BES
include BES in the decision making process
First lessons learned
Estimates depend strongly on assumptions:
5 studies – 5 Values for CO2, range $4,1/tCO2e -66€/tCO2e
Benefit Transfer is the method of choice but does it deliver robust estimates?
Learning by doing: More companies should test the tool!
Reporting the environmental damages should be mandatory.
Quantify impacts – yes! But does valuation add value?
Knowing the impacts is good but…
… so far no costs have been internalized!
Can the costs be passed on to the consumer?
How can effective compensation be ensured?
Can indirect integration of costs by using market-based instruments such as emissions trading be an alternative?
Global Nature Fund (GNF)
This time without you!