LUCSUS Seminar: How to value nature? Debates on plural valuation of biodiversity.
Valuing nature beyond markets: Theoretical issues and operational challenges in plural valuation
Environmental policy increasingly relies on nature valuation to promote the protection and sustainable use of ecosystems and biodiversity. Nature valuation has been largely dominated by monetary approaches and related market instruments. However, the notion that ecosystem processes and components with public good character can be privately appropriated and commodified is relatively recent in economic thinking, and its implementation has triggered a heated ethical and political debate. In response to mounting criticism, more inclusive and pluralistic approaches to nature valuation have gained momentum over recent years, especially after they were formally endorsed by IPBES. However, major challenges remain for moving plural valuation from theory to implementation. This presentation examines the emergence and consolidation of plural approaches to the valuation of biodiversity, discusses its advantages and limitations, and identifies some of main challenges ahead.
Seminar will be followed by a discussion together with Berta Martin Lopez (Leuphana University) and Henrik Thoren (HELSUS).
Moderator: Mine Islar (LUCSUS)