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The value of the world's ecosystem services and natural capital

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TLDR
In this paper, the authors have estimated the current economic value of 17 ecosystem services for 16 biomes, based on published studies and a few original calculations, for the entire biosphere, the value (most of which is outside the market) is estimated to be in the range of US$16-54 trillion (10^(12)) per year, with an average of US $33 trillion per year.
Abstract
The services of ecological systems and the natural capital stocks that produce them are critical to the functioning of the Earth's life-support system. They contribute to human welfare, both directly and indirectly, and therefore represent part of the total economic value of the planet. We have estimated the current economic value of 17 ecosystem services for 16 biomes, based on published studies and a few original calculations. For the entire biosphere, the value (most of which is outside the market) is estimated to be in the range of US$16-54 trillion (10^(12)) per year, with an average of US$33 trillion per year. Because of the nature of the uncertainties, this must be considered a minimum estimate. Global gross national product total is around US$18 trillion per year.

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Freshwater biodiversity: importance, threats, status and conservation challenges

TL;DR: This article explores the special features of freshwater habitats and the biodiversity they support that makes them especially vulnerable to human activities and advocates continuing attempts to check species loss but urges adoption of a compromise position of management for biodiversity conservation, ecosystem functioning and resilience, and human livelihoods.
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A typology for the classification, description and valuation of ecosystem functions, goods and services

TL;DR: In this paper, a conceptual framework and typology for describing, classifying and valuing ecosystem functions, goods and services in a clear and consistent manner is presented. And a classification is given for the fullest possible range of 23 ecosystem functions.
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Changes in the global value of ecosystem services

TL;DR: In this paper, the authors provided an updated estimate based on updated unit ecosystem service values and land use change estimates between 1997 and 2011, using the same methods as in the 1997 paper but with updated data, the estimate for the total global ecosystem services in 2011 is $125 trillion/yr (assuming updated unit values and changes to biome areas).
References
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Book

Using surveys to value public goods : the contingent valuation method

TL;DR: Mitchell and Carson as discussed by the authors argue that at this time the contingent valuation (CV) method offers the most promising approach for determining public willingness to pay for many public goods, an approach likely to succeed, if used carefully, where other methods may fail.
Journal ArticleDOI

Nature's services: societal dependence on natural ecosystems.

Gretchen C. Daily
- 23 Jan 1998 - 
TL;DR: Nature's Services brings together world-renowned scientists from a variety of disciplines to examine the character and value of ecosystem services, the damage that has been done to them, and the consequent implications for human society.
Book

For The Common Good: Redirecting The Economy Towards Community, The Environment And A Sustainable Future

TL;DR: In this article, the authors argue that the scale of human activity in the biosphere has grown too large and that change is needed in the approach to economic activity: "correction and expansion a more empirical and historical attitude less pretense on being science and willingness to subordinate the market to purposes that it is not geared to determine."
Journal ArticleDOI

Primary production required to sustain global fisheries

TL;DR: In this paper, the mean of reported annual world fisheries catches for 1988-1991 (94.3 million t) was split into 39 species groups, to which fractional trophic levels, ranging from 1.0 (edible algae) to 4.2 (tunas), were assigned, based on 48 published Trophic models, providing a global coverage of six major aquatic ecosystem types.
Journal ArticleDOI

Natural Capital and Sustainable Development

TL;DR: In this paper, a minimum necessary condition for sustainability is the maintenance of the total natural capital stock at or above the current level, to be relaxed only when solid evidence can be offered that it is safe to do so.
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