The Economics of Ecosystems and Biodiversity (TEEB)
     in National and International Policy Making



                      Patrick ten Brink
                TEEB for Policy Makers Co-ordinator
                        Head of Brussels Office
        Institute for European Environmental Policy (IEEP)

                      Earthscan – Webinar
                           7 April 2011




                                                             1
TEEB’s Genesis, Aims and progress
              G8+5                 “Potsdam Initiative – Biological Diversity 2010”
             Potsdam
                     1)    The economic significance of the global loss of biological diversity
                   Importance of recognising, demonstrating & responding to values of nature
                         Engagement: ~500 authors, reviewers & cases from across the globe

                                               TEEB End User
                                              Reports Brussels
               Interim         Climate
                                             2009, London 2010
               Report       Issues Update
                                                                        TEEB       TEEB       CBD COP11
                                                                      Synthesis    Books        Delhi

                                                                                               National
                                                                                                TEEB
Ecol./Env.                                                                                      Work
Economics
literature
                                                                                               Sectoral
             CBD COP 9         Input to                                                         TEEB
             Bonn 2008       UNFCCC 2009                                                        work
                                            India, Brazil, Belgium,                             Et al.
                                             Japan & South Africa
                                                  Sept. 2010                                   Rio+20
                                                                                               Brazil

                                                                 BD COP 10 Nagoya, Oct 2010
UN Convention on Biological Diversity (CBD)
defines biodiversity as “the web of life”


• Variety of species - plants, animals and microorganisms

• Genetic differences within each species - e.g. varieties of
  crops and breeds of livestock

• Variety of ecosystems - e.g. forests, wetlands, mountains,
  deserts, lakes, rivers, coastal marine, agricultural et al
Biodiversity and its value is about
• Diversity/variety – e.g. pharmaceuticals, food security; and
E.g. genetic resources:                                  > than




• Quantity – e.g. carbon storage, fish stock, flood control, timber, water
    retention;

•   E.g. for fish production:                        > than



• Quality – e.g landscape and tourism, ecosystems and water filtration
                                       Building on Balmford and Rodriguez et al (2009) Scoping the Science
Biodiversity loss




Biodiversity loss leads to loss of natural wealth, ecosystem services, benefits to     UNEP (2011)
                                                                                     UNEP Yearbook
economy and society/wellbeing (see TEEB (2009,2010,2011) MEA (2005)
The Pathway from Ecosystem Structure
  and processes to human well-being
Coral Reefs: Critical natural asset in danger




•   Coral Reef Services (per hectare) can have very high values
•   Global valuation studies place the value as high as US$ 172 billion per annum
•   Over 500 million people are dependent on the services from reefs
•   however…. Coral Reefs are an ecosystem at the threshold of irreversibility

    Need: reduce pressure on coral reefs, MPAs et al & encourage GHG emissions
            reductions -450ppm and 2 degrees already accepting major losses
Global Fish stocks: an overexploited,
  underperforming natural asset at risk of collapse




Source: adapted from FAO 2005

  Half of wild marine fisheries are fully exploited; a further quarter already over-exploited
  At risk : $ 80-100 billion income from the sector
            est. 27 million jobs short term vs long term
            over a billion people rely on fish as their main or sole source of animal protein
Valuation and policy making:
from valuing natural assets to decisions




    “I believe that the great part of miseries of
     mankind are brought upon them by false
estimates they have made of the value of things.”
                            Benjamin Franklin, 1706-1790
Valuation and policy making:
       from valuing natural assets to decisions
 “There is a renaissance underway, in which people are waking up
     to the tremendous values of natural capital and devising
 ingenious ways of incorporating these values into major resource
                           decisions.”
                                                      Gretchen Daily, Stanford University




                                                 Book announcement: The Economics of Ecosystems and
                                                 Biodiversity in National and International Policy Making now
TEEB Reports: http://www.teebweb.org/                              available from Earthscan
Summaries (in range of languages) and chapters
TEEB for Policy Makers Book
                          The Global Biodiversity Crisis
                          •       Nature’s assets & biodiversity loss
                          •       Economic values and loss
                          •       Social dimension

                              Measuring what we manage
                              •   Indicators
                              •   Accounts
                              •   Valuation
                              •   Assessment

                              Available Solutions
                              •    Markets/pricing/incentives
                              •    Regulation: standards
                              •    Regulation: planning, protected areas
                              •    Investment (man-made & natural capital)

                          Transforming our approach to
http://www.teebweb.org/   natural capital
Multiple benefits from ecosystems

Provisioning services                                  Many services from the same resource
•   Food, fibre and fuel
•   Water provision
•   Genetic resources

Regulating Services
•   Climate /climate change regulation
•   Water and waste purification
•   Air purification
•   Erosion control
•   Natural hazards mitigation
•   Pollination
•   Biological control

Cultural Services
•   Aesthetics, Landscape value, recreation and
    tourism
•   Cultural values and inspirational services

                                                  Important to appreciate the whole set of eco-system
Supporting Services                                   services & take into account in decisions
•   Soil formation
                                              Not only after they have been lost and oft costly substitutes
+ Resilience- eg to climate change                                      needed
Evidence base - Assessing values and actions
Assessing the value of working with natural capital has helped determine where
ecosystems can provide goods and services at lower cost than by man-made
technological alternatives and where they can lead to significant savings

• USA-NY: Catskills-Delaware watershed for NY: PES/working with nature saves money (~5US$bn)
• New Zealand: Te Papanui Park - water supply to hydropower, Dunedin city, farmers (~$136m)
• Mexico: PSAH to forest owners, aquifer recharge, water quality, deforestation, poverty (~US$303m)
• France & Belgium: Priv. Sector: Vittel (Mineral water) PES & Rochefort (Beer) PES for water quality
• Venezuela: PA helps avoid potential replacement costs of hydro dams (~US$90-$134m over 30yr)
• Vietnam restoring/investing in Mangroves - cheaper than dyke maintenance (~US$: 1m to 7m/yr)
• South Africa: WfW public PES to address IAS, avoids costs and provides jobs (~20,000; 52%♀)
• Germany : peatland restoration: avoidance cost of CO2 ~ 8 to 12 €/t CO2 (0-4 alt. land use)



Sources: various. Mainly in TEEB for National and International Policy Makers, TEEB for local and regional policy and TEEB ca ses
Beneficiaries:
         Public sector (e.g. water – national & municipalities),
         Public goods (e.g forests, biodiversity, climate),
         Private sector (e.g. water, beer, energy, agriculture),
         Citizens (e.g. water quantity, quality, price, security) and
         Communities (e.g. payments, livelihoods/jobs, ecological assets & “GDP of the poor”)

Decisions: conservation / restoration investment, PES / public programmes, protected areas

Policy synergies: Water – availability/quantity, quality,
          Climate - mitigation (green carbon) and (ecosystem based) adaptation to CC
          Job creation and livelihoods
          Security - natural hazards (e.g. flooding), water, energy
          Finances - public sector budget savings (Nat. gov’t, public services, municipalities)
          Industrial policy – energy, water, forestry, agriculture...
          Consumer affordability
          Poverty
                                                              and in each case : biodiversity.
Global Issues, Regional solutions:
           Assessing value of nature-based CC mitigation


 Mecklenburg-Vorpommern project 2000-2008

       • Restoration of 30,000 ha (10%)
       • Emission savings of up to 300,000 t CO2-eq.
       • CO2 Avoidance cost of 8 to 12 € / t CO2
       • if alternative land use options are realized
         (extensive grazing, reed production or alder
         forest) costs decrease to 0 to 4 € / t CO2



                                                                         Restored peatland in Trebeltal 2007
                                                                        Foto: D. Zak, http://www.fv-berlin.de
Source: Federal Environmental Agency 2007; MLUV MV 2009; Schäfer 2009
Cities & assessing Multiple Benefits – City of Toronto




Ecosystem                    Annual Value
Valuation Benefits           (2005, CDN $)
Carbon Values                366 million
Air Protection Values        69 million
Watershed Values             409 million
Pollination Values           360 million
Biodiversity Value           98 million
Recreation Value             95 million
Agricultural Land            329 million
Value


Source: Wilson, S. J. (2008)
Map: http://greenbeltalliance.ca/images/Greebelt_2_update.jpg
TEEB for Policy Makers – Available Solutions to
respond to the value of nature
                             • Rewarding benefits
                                •   Payments for ecosystem services (PES)
                                •   REDD+
                                •   Tax incentives, and tax transfers
                                •   Markets and certification/labelling
                                •   Green public procurement (GPP)
                             • Avoiding damage
                                •   Pricing – full cost recovery, pollution charges,
                                    liability
                                •   Regulation: standards, bans
                             • Protecting assets
                                •   Spatial planning
                                •   Protected areas – designation, management
                             • Investing in natural capital
                                •   Restoration, new investments
   http://www.teebweb.org/
Payments for Ecosystem Services Hydrological services: Aquifer recharge;
                                     Improved surface water quality, reduce
  (PES)                                 frequency & damage from flooding`


Instrument: Mexico PSAH: PES to forest
   owners to preserve forest: manage &
   not convert forest
Result
Deforestation rate fell from 1.6 % to 0.6 %.
18.3 thousand hectares of avoided deforestation
Avoided GHG emissions ~ 3.2 million tCO2e


                  Reduce Deforestation                                     Address Poverty




                                                  Munoz 2010); Muñoz-Piña et al. 2008; Muñoz-Piña et al. 2007.
Protected areas & benefits
   • 1/3 of the world’s 100 largest
     cities draw a large part of their
     drinking water from P As.

   • P & forests purify water for
      As
     NY city = US$ 6 billion (total)
     savings in water treatment
     costs

   • Venezuela’s national P system
                           A
     prevents sedimentation that
     would reduce farm earnings by
     around US$ 3.5 million/year.

Dudley and Stolton 2003, Pabon-Zamora et al. 2009
Investment in ecological infrastructure: multiple benefits

•   Afforestation: carbon store+ reduced risk of soil erosion & landslides
•   Wetlands and forests and reduced risk of flooding impacts
•   Mangroves and coastal erosion and natural hazards
•   Restore Forests, lakes and wetlands to address water scarcity
•   Coral reefs as fish nurseries for fisheries productivity / food security
•   PAs & connectivity to facilitate resilience of ecosystems and species


Potential for lower cost adaption to climate change and policy synergies


       Adaptation to climate change will receive hundreds of US$ billions in coming
                                     years/decades.
                       Critically important that this be cost-effective.
      Support for identifying where natural capital solutions are appropriate & invest.
Eroding natural capital base & tools for an
      alternative development path
                                                            Opportunities/benefits of ESS
                      No net loss from 2010 level
 Past loss/                                               Investment in natural capital +ve
degradation      Halting biodiversity loss                            change
                                                                                                    `
                                                                                    Regulation
                                                                         Better governance
                                                                        Economic signals :
                                                           PES, REDD, ABS (to reward benefits)
                                             Charges, taxes, fines (to avoid degradation/damage:
  Alternative natural capital                         Subsidy reform (right signals for policy)
                                                     Sustainable consumption (eg reduced meat)
     Development path
                                                          Markets, certification/logos & GPP
                                                                     Agricultural innovation
                                                                 Investment in natural capital:
                                                                             green infrastructure
                     Predicted future loss of natural capital
                                                                                   Restoration
                  (schematic) – with no additional policy action
                                                                                            PAs


          2010                                                                            2050
TEEB quantitative assessment




                                                              -50%




Ben ten Brink et al (2010)



     Expanding PAs has a role, as does reducing deforestation. Changing diet the most
   important. Biofuels can be counterproductive. Combined these issues are not enough –
                  need full set of instruments and integration across sectors
Summary
Making Natures Values Visible: improved
  evidence base for improved governance, awareness for           …is this enough to work out
                                                                         what to do?
  action – government, business, people
Measuring better to manage better: from
  indicators to accounts
Changing the incentives: taxes, charges, subsidy
  reform, markets
Protected areas: biodiversity riches that can offer value
  for money
Ecological infrastructure and benefits: climate
  change and beyond
                                                                  …always better to look at
Natural capital and poverty reduction:                               the whole board
  investment for synergies                                        And engage the full set of
Mainstream the economics of nature: across                               players.
  sectors, across policies, seek synergies across disciplines.
TEEB Implementation                   – some post Nagoya steps


                       TEEB Country & Regional Studies                           Rio+20

      TEEB Brazil, TEEB India, TEEB NL, TEEB Nordics ..                         CBD COP11

                                TEEB Integration

      Support for business and biodiversity (indicators, valuation reporting)
                                                                                 RAMSAR
     TEEB for Agriculture; TEEB & Water ….                                       COP 2012

                 Initiatives building on TEEB recommendations
                                                                                 SEEA 2012
      World Bank/UNEP et al 5+5 initiative on National accounts …


                      Science / Economics evidence base

   Quantitative assessment, valuation, Green infrastructure etc


              Parallel track: Similar type work independent of TEEB
Many initiatives that focus on (responding to) the value of nature by range of actors
Thank you
                          TEEB Reports available on http://www.teebweb.org/
       The Economics of Ecosystems and Biodiversity in National and International Policy Making and
                                other TEEB books available on Earthscan

            and follow us on http://twitter.com/TEEB4ME & http://www.facebook.com/TEEB4me



                               Patrick ten Brink, ptenbrink@ieep.eu

IEEP is an independent, not-for-profit institute dedicated to the analysis, understanding and
                     promotion of policies for a sustainable environment.
                                         www.ieep.eu

                           The Manual of European Environmental Policy
                            http://www.europeanenvironmentalpolicy.eu/

PtB TEEB for Policy Makers Webinar/Earthcast 7 april 2011

  • 1.
    The Economics ofEcosystems and Biodiversity (TEEB) in National and International Policy Making Patrick ten Brink TEEB for Policy Makers Co-ordinator Head of Brussels Office Institute for European Environmental Policy (IEEP) Earthscan – Webinar 7 April 2011 1
  • 2.
    TEEB’s Genesis, Aimsand progress G8+5 “Potsdam Initiative – Biological Diversity 2010” Potsdam 1) The economic significance of the global loss of biological diversity Importance of recognising, demonstrating & responding to values of nature Engagement: ~500 authors, reviewers & cases from across the globe TEEB End User Reports Brussels Interim Climate 2009, London 2010 Report Issues Update TEEB TEEB CBD COP11 Synthesis Books Delhi National TEEB Ecol./Env. Work Economics literature Sectoral CBD COP 9 Input to TEEB Bonn 2008 UNFCCC 2009 work India, Brazil, Belgium, Et al. Japan & South Africa Sept. 2010 Rio+20 Brazil BD COP 10 Nagoya, Oct 2010
  • 3.
    UN Convention onBiological Diversity (CBD) defines biodiversity as “the web of life” • Variety of species - plants, animals and microorganisms • Genetic differences within each species - e.g. varieties of crops and breeds of livestock • Variety of ecosystems - e.g. forests, wetlands, mountains, deserts, lakes, rivers, coastal marine, agricultural et al
  • 4.
    Biodiversity and itsvalue is about • Diversity/variety – e.g. pharmaceuticals, food security; and E.g. genetic resources: > than • Quantity – e.g. carbon storage, fish stock, flood control, timber, water retention; • E.g. for fish production: > than • Quality – e.g landscape and tourism, ecosystems and water filtration Building on Balmford and Rodriguez et al (2009) Scoping the Science
  • 5.
    Biodiversity loss Biodiversity lossleads to loss of natural wealth, ecosystem services, benefits to UNEP (2011) UNEP Yearbook economy and society/wellbeing (see TEEB (2009,2010,2011) MEA (2005)
  • 6.
    The Pathway fromEcosystem Structure and processes to human well-being
  • 7.
    Coral Reefs: Criticalnatural asset in danger • Coral Reef Services (per hectare) can have very high values • Global valuation studies place the value as high as US$ 172 billion per annum • Over 500 million people are dependent on the services from reefs • however…. Coral Reefs are an ecosystem at the threshold of irreversibility Need: reduce pressure on coral reefs, MPAs et al & encourage GHG emissions reductions -450ppm and 2 degrees already accepting major losses
  • 8.
    Global Fish stocks:an overexploited, underperforming natural asset at risk of collapse Source: adapted from FAO 2005  Half of wild marine fisheries are fully exploited; a further quarter already over-exploited  At risk : $ 80-100 billion income from the sector  est. 27 million jobs short term vs long term  over a billion people rely on fish as their main or sole source of animal protein
  • 9.
    Valuation and policymaking: from valuing natural assets to decisions “I believe that the great part of miseries of mankind are brought upon them by false estimates they have made of the value of things.” Benjamin Franklin, 1706-1790
  • 10.
    Valuation and policymaking: from valuing natural assets to decisions “There is a renaissance underway, in which people are waking up to the tremendous values of natural capital and devising ingenious ways of incorporating these values into major resource decisions.” Gretchen Daily, Stanford University Book announcement: The Economics of Ecosystems and Biodiversity in National and International Policy Making now TEEB Reports: http://www.teebweb.org/ available from Earthscan Summaries (in range of languages) and chapters
  • 11.
    TEEB for PolicyMakers Book The Global Biodiversity Crisis • Nature’s assets & biodiversity loss • Economic values and loss • Social dimension Measuring what we manage • Indicators • Accounts • Valuation • Assessment Available Solutions • Markets/pricing/incentives • Regulation: standards • Regulation: planning, protected areas • Investment (man-made & natural capital) Transforming our approach to http://www.teebweb.org/ natural capital
  • 12.
    Multiple benefits fromecosystems Provisioning services Many services from the same resource • Food, fibre and fuel • Water provision • Genetic resources Regulating Services • Climate /climate change regulation • Water and waste purification • Air purification • Erosion control • Natural hazards mitigation • Pollination • Biological control Cultural Services • Aesthetics, Landscape value, recreation and tourism • Cultural values and inspirational services Important to appreciate the whole set of eco-system Supporting Services services & take into account in decisions • Soil formation Not only after they have been lost and oft costly substitutes + Resilience- eg to climate change needed
  • 13.
    Evidence base -Assessing values and actions Assessing the value of working with natural capital has helped determine where ecosystems can provide goods and services at lower cost than by man-made technological alternatives and where they can lead to significant savings • USA-NY: Catskills-Delaware watershed for NY: PES/working with nature saves money (~5US$bn) • New Zealand: Te Papanui Park - water supply to hydropower, Dunedin city, farmers (~$136m) • Mexico: PSAH to forest owners, aquifer recharge, water quality, deforestation, poverty (~US$303m) • France & Belgium: Priv. Sector: Vittel (Mineral water) PES & Rochefort (Beer) PES for water quality • Venezuela: PA helps avoid potential replacement costs of hydro dams (~US$90-$134m over 30yr) • Vietnam restoring/investing in Mangroves - cheaper than dyke maintenance (~US$: 1m to 7m/yr) • South Africa: WfW public PES to address IAS, avoids costs and provides jobs (~20,000; 52%♀) • Germany : peatland restoration: avoidance cost of CO2 ~ 8 to 12 €/t CO2 (0-4 alt. land use) Sources: various. Mainly in TEEB for National and International Policy Makers, TEEB for local and regional policy and TEEB ca ses
  • 14.
    Beneficiaries: Public sector (e.g. water – national & municipalities), Public goods (e.g forests, biodiversity, climate), Private sector (e.g. water, beer, energy, agriculture), Citizens (e.g. water quantity, quality, price, security) and Communities (e.g. payments, livelihoods/jobs, ecological assets & “GDP of the poor”) Decisions: conservation / restoration investment, PES / public programmes, protected areas Policy synergies: Water – availability/quantity, quality, Climate - mitigation (green carbon) and (ecosystem based) adaptation to CC Job creation and livelihoods Security - natural hazards (e.g. flooding), water, energy Finances - public sector budget savings (Nat. gov’t, public services, municipalities) Industrial policy – energy, water, forestry, agriculture... Consumer affordability Poverty and in each case : biodiversity.
  • 15.
    Global Issues, Regionalsolutions: Assessing value of nature-based CC mitigation Mecklenburg-Vorpommern project 2000-2008 • Restoration of 30,000 ha (10%) • Emission savings of up to 300,000 t CO2-eq. • CO2 Avoidance cost of 8 to 12 € / t CO2 • if alternative land use options are realized (extensive grazing, reed production or alder forest) costs decrease to 0 to 4 € / t CO2 Restored peatland in Trebeltal 2007 Foto: D. Zak, http://www.fv-berlin.de Source: Federal Environmental Agency 2007; MLUV MV 2009; Schäfer 2009
  • 16.
    Cities & assessingMultiple Benefits – City of Toronto Ecosystem Annual Value Valuation Benefits (2005, CDN $) Carbon Values 366 million Air Protection Values 69 million Watershed Values 409 million Pollination Values 360 million Biodiversity Value 98 million Recreation Value 95 million Agricultural Land 329 million Value Source: Wilson, S. J. (2008) Map: http://greenbeltalliance.ca/images/Greebelt_2_update.jpg
  • 17.
    TEEB for PolicyMakers – Available Solutions to respond to the value of nature • Rewarding benefits • Payments for ecosystem services (PES) • REDD+ • Tax incentives, and tax transfers • Markets and certification/labelling • Green public procurement (GPP) • Avoiding damage • Pricing – full cost recovery, pollution charges, liability • Regulation: standards, bans • Protecting assets • Spatial planning • Protected areas – designation, management • Investing in natural capital • Restoration, new investments http://www.teebweb.org/
  • 18.
    Payments for EcosystemServices Hydrological services: Aquifer recharge; Improved surface water quality, reduce (PES) frequency & damage from flooding` Instrument: Mexico PSAH: PES to forest owners to preserve forest: manage & not convert forest Result Deforestation rate fell from 1.6 % to 0.6 %. 18.3 thousand hectares of avoided deforestation Avoided GHG emissions ~ 3.2 million tCO2e Reduce Deforestation Address Poverty Munoz 2010); Muñoz-Piña et al. 2008; Muñoz-Piña et al. 2007.
  • 19.
    Protected areas &benefits • 1/3 of the world’s 100 largest cities draw a large part of their drinking water from P As. • P & forests purify water for As NY city = US$ 6 billion (total) savings in water treatment costs • Venezuela’s national P system A prevents sedimentation that would reduce farm earnings by around US$ 3.5 million/year. Dudley and Stolton 2003, Pabon-Zamora et al. 2009
  • 20.
    Investment in ecologicalinfrastructure: multiple benefits • Afforestation: carbon store+ reduced risk of soil erosion & landslides • Wetlands and forests and reduced risk of flooding impacts • Mangroves and coastal erosion and natural hazards • Restore Forests, lakes and wetlands to address water scarcity • Coral reefs as fish nurseries for fisheries productivity / food security • PAs & connectivity to facilitate resilience of ecosystems and species Potential for lower cost adaption to climate change and policy synergies Adaptation to climate change will receive hundreds of US$ billions in coming years/decades. Critically important that this be cost-effective. Support for identifying where natural capital solutions are appropriate & invest.
  • 21.
    Eroding natural capitalbase & tools for an alternative development path Opportunities/benefits of ESS No net loss from 2010 level Past loss/ Investment in natural capital +ve degradation Halting biodiversity loss change ` Regulation Better governance Economic signals : PES, REDD, ABS (to reward benefits) Charges, taxes, fines (to avoid degradation/damage: Alternative natural capital Subsidy reform (right signals for policy) Sustainable consumption (eg reduced meat) Development path Markets, certification/logos & GPP Agricultural innovation Investment in natural capital: green infrastructure Predicted future loss of natural capital Restoration (schematic) – with no additional policy action PAs 2010 2050
  • 22.
    TEEB quantitative assessment -50% Ben ten Brink et al (2010) Expanding PAs has a role, as does reducing deforestation. Changing diet the most important. Biofuels can be counterproductive. Combined these issues are not enough – need full set of instruments and integration across sectors
  • 23.
    Summary Making Natures ValuesVisible: improved evidence base for improved governance, awareness for …is this enough to work out what to do? action – government, business, people Measuring better to manage better: from indicators to accounts Changing the incentives: taxes, charges, subsidy reform, markets Protected areas: biodiversity riches that can offer value for money Ecological infrastructure and benefits: climate change and beyond …always better to look at Natural capital and poverty reduction: the whole board investment for synergies And engage the full set of Mainstream the economics of nature: across players. sectors, across policies, seek synergies across disciplines.
  • 24.
    TEEB Implementation – some post Nagoya steps TEEB Country & Regional Studies Rio+20 TEEB Brazil, TEEB India, TEEB NL, TEEB Nordics .. CBD COP11 TEEB Integration Support for business and biodiversity (indicators, valuation reporting) RAMSAR TEEB for Agriculture; TEEB & Water …. COP 2012 Initiatives building on TEEB recommendations SEEA 2012 World Bank/UNEP et al 5+5 initiative on National accounts … Science / Economics evidence base Quantitative assessment, valuation, Green infrastructure etc Parallel track: Similar type work independent of TEEB Many initiatives that focus on (responding to) the value of nature by range of actors
  • 25.
    Thank you TEEB Reports available on http://www.teebweb.org/ The Economics of Ecosystems and Biodiversity in National and International Policy Making and other TEEB books available on Earthscan and follow us on http://twitter.com/TEEB4ME & http://www.facebook.com/TEEB4me Patrick ten Brink, ptenbrink@ieep.eu IEEP is an independent, not-for-profit institute dedicated to the analysis, understanding and promotion of policies for a sustainable environment. www.ieep.eu The Manual of European Environmental Policy http://www.europeanenvironmentalpolicy.eu/