Market value alone is selling nature short, governments told

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Markets alone do not properly assess value of natural features like rivers, valleys and mountain ranges: report

Is it for the nutritional content of the fish it sustains? The economic benefit of the local livelihoods it supports? Or does the river have its own value which humans cannot measure?

"This is largely because our current approach to political and economic decisions does not sufficiently account for the diversity of nature's values," she said of conclusions based on 13,000 references drawn from sources ranging from scientific papers to consultations with indigenous groups. While some argue that assigning a money value to natural resources will push governments, companies and consumers to look after them, others believe that putting a price tag on something with inestimable value will have the very opposite effect.

"No effort to conserve biodiversity will succeed without supporting our values and our world view," she said, stressing the need for indigenous peoples to be recognized as the best guardians of their own ancestral territories.Ringfencing the biodiversity of a forest might exclude local populations that depend on it for their livelihoods; on the other hand, a development project may create jobs but lead to species loss and destroy heritage sites of cultural value.

The IPBES report - signed off on Saturday by 139 member countries including the United States, China, India and Russia - offers a toolkit to help policy-makers navigate trade-offs in domestic policy and in international negotiations such as this year's talks on a new global biodiversity pact. While past attempts to resolve nature conflicts have often failed to balance competing priorities or ignored some voices -- typically the low-income or indigenous ones -- there have been some notable successes.

 

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