The economics of ecosystems and biodiversity : ecological and economic foundations
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.