Abstract
Biodiversity loss is a problem of global concern affecting ecosystem functioning and services provided to humans. The Millennium Ecosystem Assessment is built on a conceptual framework that links biodiversity with the services ecosystems provide to society and human welfare. Numerous empirical studies have measured ecosystem goods and services in terms of economic values; however, less evidence is available of the indirect effect of biodiversity on these values. Based on this, we first compile market and non-market forest valuation studies and, secondly, explore the potential of an econometric modelling exercise by conducting a worldwide meta-analysis. This exercise aims to highlight the role of biodiversity indicators on valuation. In this way, we can study the underlying transmission mechanisms that explain to what extent biodiversity is related to human welfare. Furthermore, we also propose to evaluate the magnitudes of the respective distributional impacts, including the different ecosystem goods and services under consideration. Our results show that biodiversity indicators may have an underlying effect on forest ecosystem values, which also depend on the type of ecosystem services. Lastly, the results are discussed and analysed with respect to their policy implications concerning biodiversity conservation.
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