Abstract
Ecosystem services has risen to become one of the preeminent global policy discourses framing the way we conceive and articulate environment–society relations, integral to the form and function of a number of far-reaching international policies such as the Aichi 2020 Biodiversity Targets and the recently adopted Sustainable Development Goals. Value; its pursuit, definition, quantification, monetization, multiplicity and uncertainty, both in terms of meaning and attribution, is fundamental to the economic foundations of ecosystem services and a core feature driving its inclusion across multiple policy domains such as environmental management and conservation. Distilling current knowledge and developments in this arena are thus highly prescient. In this article, we cast a critical eye over the evidence base and aim to provide a comprehensive synthesis of what values are, why they are important and the methodological approaches employed to elicit them (including their pros and cons and the arguments for and against). We also illustrate the current ecosystem service value landscape, highlight some of the fundamental challenges in discerning and applying values, and outline future research activities. In so doing, we further advance ecosystem valuation discourse, contribute to wider debates linking ecosystem services and sustainability and strengthen connections between ecosystem services and environmental policy.
Highlights
The environmental landscape is subject to constant change, but, how we perceive, use, exploit and manage “nature” remains one of the fundamental challenges of developing sustainable societies and a flourishing Earth System [1,2]
These issues have the potential to create an additional set of problems; the idea that monetary valuation, as an extrinsic motivator, and by extension the incentive programmes that are often designed based on valuation exercises, can displace peoples’ intrinsic motivations for conserving biodiversity and ecosystem services leading to an overall decrease in the “demand and support for environmental protection” [44,71]
Drawing together the evidence we have laid out over the preceding Sections 2–4, it is clear that progress in ecosystem services valuation has been substantial and many insights have been gained through endeavours such as The Economics of Ecosystems and Biodiversity (TEEB), Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) and associated processes
Summary
The environmental landscape is subject to constant change, but, how we perceive, use, exploit and manage “nature” remains one of the fundamental challenges of developing sustainable societies and a flourishing Earth System [1,2]. With reference to the latter development, such fruitful integration remains contingent on the challenges of identifying ecosystem services (ES), attributing values to ES, and resolving and validating the issue of societal dependence on ES all of which have yet to be fully resolved [8,9]. These difficulties are exemplified by the continuing exchanges occurring between environmental and ecological economists regarding the nature of ES, the role of valuation in the implementation of the ES paradigm and the translation of ES into practical decision-making processes and policy applications [8,10,11].
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
