Limits of monetization in protecting ecosystem services

Temel, Anna, Jones, Aled, Jones, Nikoleta and Balint, Lenke (2018) Limits of monetization in protecting ecosystem services. Conservation Biology, 32 (5). pp. 1048-1062. ISSN 1523-1739

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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.

Item Type: Journal Article
Keywords: biodiversity, conservation, valuation, case studies, payment
Faculty: ARCHIVED Faculty of Science & Technology (until September 2018)
Depositing User: Prof Aled Jones
Date Deposited: 27 Apr 2018 11:49
Last Modified: 03 Feb 2022 10:19

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