What is the true value, a full accounting, of ecosystem services within world markets? Is it possible to actually trade the broad array of systems that are essential for life – soil, water, carbon – while influencing political decisions, even consumer preferences?
Those are the fundamental questions posed by the World Business Council for Sustainable Development (WBCSD) in its latest newsletter. “Natural Assets: Conservation Instruments or Instruments for Change?”, begins:
“Nobody is surprised when their water is cut off if they haven’t paid the bill. We admit that companies have to recoup their investments and maintain infrastructure (water withdrawal, treatment, distribution, etc.), on top of paying staff and suppliers.
Why don’t we apply the same logic to the services offered by nature? The answer is simple: they are perceived to be free. Year after year, plant roots have acted as enormous filter systems and, in spite of not getting compensated, they have not stopped filtering.”
“Natural Assets” cites several emerging examples: the European Union’s Water Framework Directive and the Environmental Liability Directive, which includes complementary measures to compensate for the damage caused at different sites. In addition, the EC Habitats Directive and the Biodiversity Strategy embrace the principle of no net loss, setting the target of zero biodiversity loss by 2010. In Spain, the Ministry of Environment’s WATER program has created water banks. And “Natura 2000”, Europe’s network of protected natural areas, obliges Spanish businesses to act in the fight against biodiversity loss.
The central idea, according to Fundación Entorno - BCSD Spain:
“The introduction of ecosystem services that are essential for life (soil fixation, nutrient cycles, carbon absorption, climate regulation, water supply, along with aesthetic, cultural and spiritual values) into market considerations would help to create a school of thought that is sensitive to conservation interests.
By doing so, new trading opportunities would emerge that build on the experience of carbon markets. Buyers and sellers would exchange environmental services with a net result that does not imply the loss of natural assets.”
Read the full text of “Natural Assets: Conservation Instruments or Instruments for Change?” here.
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