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Limits of monetization in protecting ecosystem services
Julia Temel1, Aled Jones2, Nikoleta Jones2
1Ruhr-Universität Bochum, Universitätsstr. 150, 44801, Bochum, Germany.
Summary
Monetary valuation of ecosystem services shows limited effectiveness for biodiversity conservation. Schemes often ignore criteria, necessitating better policy and governance for successful outcomes.
Area of Science:
- Ecosystem services valuation
- Biodiversity conservation science
- Environmental economics
Background:
- Monetary valuation of ecosystem services is increasingly used in policy and business.
- Criteria exist to assess the suitability of monetary valuation for biodiversity conservation outcomes, focusing on scale, uniqueness, and threat.
Purpose of the Study:
- To explore the limitations and application of established criteria for monetary valuation in biodiversity conservation.
- To assess the effectiveness of monetization projects based on measured outcomes.
Main Methods:
- Analysis of case studies involving monetization projects with measured outcomes.
- Evaluation of the application of criteria (scale, uniqueness, threat) in these projects.
Main Results:
- Limited evidence was found for the effectiveness of monetary valuation schemes in achieving biodiversity conservation outcomes.
- Most schemes were implemented in areas where the criteria explicitly advised against their isolated use.
- Schemes were often not used appropriately, despite potential benefits.
Conclusions:
- Monetary valuation alone is insufficient for effective biodiversity conservation.
- Additional policy or governance measures, including quantitative measurements, are required to ensure conservation outcomes.
- Appropriate application of criteria and robust governance are crucial for successful ecosystem service valuation in conservation.
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