Published online by Cambridge University Press: 11 August 2009
Introduction – the challenge of valuing biodiversity
Society needs to make difficult decisions regarding its use of biological resources, for example in terms of habitat conservation, or changing how we manage farmland through agri-environmental policy (Hanley and Shogren 2002). Environmental valuation techniques can provide useful evidence to support such policies by quantifying the economic value associated with the protection of biological resources. Pearce (2001, p. 29) argues that the measurement of the economic value of biodiversity is a fundamental step towards its conservation since ‘the pressures to reduce biodiversity are so large that the chances that we will introduce incentives [for the protection of biodiversity] without demonstrating the economic value of biodiversity are much less than if we do engage in valuation’. Assigning monetary values to biodiversity is thus important since it allows the benefits associated with biodiversity to be directly compared with the economic value of alternative resource use options (Nunes and van den Bergh 2001). OECD (2001) also recognises the importance of measuring the economic value of biodiversity and identifies a wide range of uses for such values, including demonstrating the value of biodiversity, in targeting biodiversity protection within scarce budgets, and in determining damages for loss of biodiversity in liability regimes.
More generally, the role of environmental valuation methodologies in policy formulation is increasingly being recognised by policy-makers.
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.