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Limits of monetization in protecting ecosystem services
journal contribution
posted on 2023-08-30, 15:16 authored by Anna Temel, Aled Jones, Nikoleta Jones, Lenke BalintThe 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
32Issue number
5Page range
1048-1062Publication title
Conservation BiologyISSN
1523-1739External DOI
Publisher
WileyFile version
- Accepted version
Language
- eng
Official URL
Legacy posted date
2018-04-27Legacy creation date
2018-04-27Legacy Faculty/School/Department
ARCHIVED Faculty of Science & Technology (until September 2018)Usage metrics
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