valuenature

Valuenature is a term used in environmental economics and policy discourse to describe the practice of assigning value to nature and its services to guide decision-making. It covers monetary valuation methods, such as calculating how ecosystems contribute to GDP, and non-monetary indicators that reflect ecological health, cultural significance, and resilience.

Conceptual framework and methods: Valuenature builds on natural capital and ecosystem services. It classifies services into provisioning, regulating, supporting, and cultural categories. Valuation approaches include total economic value, contingent valuation, hedonic pricing, travel-cost methods, and replacement or avoided-damage costs; alongside non-monetary metrics like biodiversity indices and ecological integrity scores. Some efforts seek to integrate these into national accounting systems, leading to concepts like green accounting or natural capital accounting and metrics such as gross ecosystem product (GEP).

Applications and uses: valuenature informs conservation prioritization, land-use planning, climate policy, water management, and urban sustainability. It can help weigh trade-offs in development projects, set performance targets for nature-based solutions, and guide corporate risk assessment and sustainability reporting. Proponents argue that valuation makes nature visible in political processes and budgeting.

Critiques and challenges: Critics warn that monetizing nature risks commodification, may misrepresent values, and involves data and methodological uncertainty. There are ethical concerns about who benefits, potential biases in valuation, and the risk of undervaluing protecting ecosystems beyond economic metrics. Non-monetary and participatory approaches are often recommended to complement valuation.

Relationship to related concepts: Valuenature relates to natural capital, ecosystem services, and green economy initiatives. It overlaps with, and sometimes competes with, intrinsic or cultural-value frameworks and policies that emphasize biodiversity, rights, and long-term planetary health. As an evolving field, its methods and acceptance vary across disciplines and jurisdictions.