Norway, [Government]

Representatives of the Governments of Canada, Denmark, Norway, the Union of Soviet Socialist Republics and the United States of America took part in the Conference. A representative of the International Union for the Conservation of Nature and Natural Resources (IUCN) was also present. The Conference had its origins in a proposal made by representatives of the USSR at a meeting of the IUCN Polar Bear Specialist Group held in Morges, Switzerland, in February 1972. A draft of an Agreement on the Conservation of Polar Bears prepared by IUCN was sent to the five Governments for consideration.

This report is planned to be a useful advisory tool for local and regional policymakers, administrators and managers. The information in this report will also be of interest to organisations such as NGOs, regulatory bodies, permitting agencies and the judicial system. It explores and gives practical guidance on how to deal with the challenge of biodiversity loss at a local and regional level.

The TEEB study is underpinned by an assessment of state-of-the-art science and economics. The goal is to provide the conceptual foundation to link economics and ecology and to posit a paradigm of the relationship between biodiversity and ecosystem services. This aspect of the study tackles the challenges of valuing ecosystem services, as well as issues related to economic discounting. It aims to quantify the costs of inaction and examine the macroeconomic dimension of ecosystem services loss.

This publication is the executive summary for a full report which demonstrates the value of ecosystems and biodiversity to the economy, to society and to individuals. It underlines the urgency of action, as well as the benefits and opportunities that will arise as a result of taking such action. The report shows that the cost of sustaining biodiversity and ecosystem services is lower than the cost of allowing biodiversity and ecosystem services to dwindle.

The TEEB for Local and Regional Policy Makers was released on September 9, 2010, and includes overviews to the various chapters of the full TEEB for Local and Regional Policy Makers Report.

The Economics of Ecosystems and Biodiversity Interim Report, a first assessment stemming from a G8+5 initiative sponsored by Germany and the European Commission, points to the growing pressures on biodiversity and ecosystem services across the world and the need for improved valuation metrics for pricing natural resources. The main pressures come from population growth, changing diets, urbanization, climate change and invasive alien species.

The aim of this synthesis is to highlight and illustrate the approach adopted by TEEB: namely to show how economic concepts and tools can help equip society with the means to incorporate the values of nature into decision making at all levels.

This report provides a summary for the business community, illustrated with examples from a range of companies and sectors. It asks: what are the risks and opportunities to business of ecological change? What is business currently doing about biodiversity and ecosystem services? What more could business do? and how can the business imperative to deliver profits be better aligned with the conservation and sustainable use of biological resources?