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Limits of monetization in protecting ecosystem services

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journal contribution
posted on 2023-08-30, 15:16 authored by Anna Temel, Aled Jones, Nikoleta Jones, Lenke Balint
The monetary valuation of ecosystem services is gaining traction in policy and business communities. Several tools and decision‐making processes have been proposed, including criteria to assess the appropriateness of using monetary valuation for biodiversity conservation outcomes. These criteria include measures such as scale, uniqueness, and threat. We used case studies of monetization projects for which the outcomes were measured to explore the limitations and application of these criteria. There was limited evidence of the effectiveness of such schemes. The majority of the schemes were established in areas where the criteria specifically excluded their use in isolation. Thus, although some aspects of monetization may be beneficial for biodiversity conservation, these schemes were not being used appropriately and require some quantitative minimum (or maximum) measurements to be applied through additional policy or governance measures to ensure biodiversity conservation outcomes.

History

Refereed

  • Yes

Volume

32

Issue number

5

Page range

1048-1062

Publication title

Conservation Biology

ISSN

1523-1739

Publisher

Wiley

File version

  • Accepted version

Language

  • eng

Legacy posted date

2018-04-27

Legacy creation date

2018-04-27

Legacy Faculty/School/Department

ARCHIVED Faculty of Science & Technology (until September 2018)

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