The Economics of Ecosystems and Biodiversity (TEEB) initiative

Interim results are presented from five exploratory sector studies (on livestock, rice, agroforestry, inland fisheries and palm oil), while the development of a ‘valuation framework’ provides a common lens for ensuring that the full range of impacts and dependencies can be examined under different applications (i.e. by sector, system or practice). Finally, the report examines the way forward for this study by identifying economic and policy drivers and incentives that influence land-use decisions and management techniques within production systems around the world.

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.

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.

This TEEB report presents a sub-set of early conclusions which relate to climate change. Although a fuller report on these issues was to be released in late 2009, this shorter version was released in preparation for the climate change conference in Copenhagen, Denmark, in December 2009, and includes the climate-related conclusions and recommendations generated for policy-makers, negotiators and the general public.

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?