Values calculated for services at a biome or planetary scale (for which changes and baselines are often poorly defined) are generally considered invalid—or at least highly inaccurate—by economists. Concerning human ecology, several steps are followed when conducting research. Some ecosystem services serve as both final and intermediate services. For example, a deer living in the meadow ecosystem needs water to drink, vegetation to eat and shrubs and bracken to sleep and hide in. However, the idea that natural systems support human welfare is much older. First, an ecosystem service must be linked to an identifiable set of human beneficiaries. In China, studies of the Yangtze River watersheds revealed that the value of conservation of forests for power services was 2.2 times greater than the value obtained from harvesting timber. ScienceDirect ® is a registered trademark of Elsevier B.V. ScienceDirect ® is a registered trademark of Elsevier B.V. Despite the advances in knowledge about our footprint on the planet — for example we have a good idea of countries’ individual bio-capacity and how much of it is actually being used by the population thanks to ecological footprint analysis — the emphasis on development and growth is more salient to our everyday lifestyles. There is, therefore, a need for evaluation using weighting factors such as bundled services and service irreplaceability to allocate economic value to services is necessary. In the 1940s, three authors, Leopold, Osborn, and Vogt, also tried to increase societal awareness on humanity’s dependence on nature through the concept of “natural capital.” Paul Sears again highlighted the ecosystem’s critical role in society in 1956 by drawing attention to its role in processing wastes and recycling nutrients. Although the term is quite new, our connection to nature is not. Valuation also requires analysts to distinguish between intermediate and final services. Certainly not everyone is happy that issues of habitat and species loss are being framed only with regard to the services we can make use of. The accuracy of valuation also depends on the ability of an analysis to account for factors that influence the contribution of ecosystem services to welfare. The contribution that these services make to human well-being (HWB), and therefore to development outcomes, is not well understood. Other innovative approaches to ecosystem conservation include payment and trading in services where one can get credits for efforts aimed at conservation. Because ecosystem services are not usually bought and sold directly in markets, market activities do not fully reflect the benefits provided by those services. Such a framework could also help in the formulation of strategic decisions. Only an intact ecosystem can support these ecological processes, which have economic and social value. Then there are our busy lives. Economists in the 18th and 19th centuries recognized the value provided by land and other natural resources as productive assets. Ecosystem Services valuation and assessment is one way to help make this happen. The large scale loss of species will, therefore, cause the collapse of the ecosystem. Throughout history, humans have relied on goods and services provided by nature. Among all the ecosystem services, supporting services alone contribute about 50% and the rest of the services account for less than 10% in the same. The workshop also presented attendees a face-to-face opportunity to find out about the true value of ecosystem services from some of the leading experts in ecosystem science. The list of services ecosystems perform for us is extensive and includes: Quantifying the value of all ecosystemservices can be a challenging task. Of particular relevance to ecosystem services analysis are modern ecological concepts, models, and methods developed during and after the 20th century. Quantification of ecosystem service values has its foundation in formal economic methods for nonmarket valuation, which have been refined extensively since their initial development by environmental and resource economists in the 1940s. Among all the ecosystem services, supporting services alone contribute about 50% and the rest of the services account for less than 10% in the same. Omissions? The management of ecosystems in the modern era is proving to be a daunting task due to competing interests. Still, IPBES scientists seem well aware that they need to be ‘policy relevant’ rather than overly ‘policy prescriptive’ to emphasize their supportive role.
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