Monetizing Nature Has Fallen Short—Experts Explore New Strategies to Protect Ecosystems

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Monetizing Nature Has Fallen Short—Experts Explore New Strategies to Protect Ecosystems

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Can Innovative Methods Save Our Ecosystems?

In 2012, at a global environmental conference, a group of influential figures took a stand. Their proposal was to save our planet's ecosystems by attributing a monetary value to nature. While the idea of assigning a dollar value to forests, coral reefs, and tundra was met with some hesitation, many hoped that it could play a key role in conserving our natural world.

However, despite these hopes, the measurable impact of this approach has been minimal. This has led many experts who initially supported the concept of "ecosystem services" to question: what should we do now?

What is the Concept of Ecosystem Services?

Ecosystem services are essentially the benefits that humans derive from natural ecosystems. For instance, forests are not just a source of timber; they also provide recreational areas, help in carbon sequestration, filter water, and offer a habitat for various species. By considering the wide array of benefits these ecosystems offer, the hope was that the scales could be tipped towards conservation.

In 1997, a group of researchers even attempted to quantify the total value of the world's ecosystems, coming up with a whopping $33 trillion. This figure showcased the potential of ecosystem services, putting them on the global map.

The Rise and Fall of Ecosystem Services

The concept of ecosystem services began to gain traction among biologists and conservationists in the late '90s. The idea that human societies depend on the natural processes around them is an ancient one, but the term "ecosystem services" brought it into a contemporary context. The notion of ecosystem services started to permeate various spheres, from national governments and conservation groups to large corporations and international environmental agreements.

However, the initial enthusiasm didn't last long. Despite being hailed as a revolutionary method for conservation, the reality was that the decimation of Earth's lifeforms continued unabated. The anticipated surge in private investment and the creation of new environmental markets didn't materialize on the expected scale. The gap in conservation funding remains as wide as ever.

The Shortcoming of Ecosystem Services

The failure of ecosystem services to deliver on their promise lies in a complex web of factors. One of the key reasons is the role of power dynamics. For example, the decision to preserve or demolish a mangrove forest has less to do with its calculated value and more with who stands to benefit from its preservation or destruction. The factor that is often missing in ecosystem services is a deeper analysis of these core power relations that drive environmental degradation.

Looking Beyond Ecosystem Services

Many conservationists are now looking beyond ecosystem services and taking a "biodiversity justice" approach to conservation. This approach involves aligning with a wider array of groups, including social movements, Indigenous peoples, rural communities, farmers, and workers. It brings a more rigorous account of power, movement building, and public mobilization to the forefront. Such an approach has proven effective in several instances, particularly when it has been applied to large-scale projects that threaten biodiversity.

A New Approach to Conservation

There are numerous alternative ideas about the future of conservation and who should be involved in it. Biologists could bring their expertise, including ecosystem services, and align their work with other interests and more transformative plans for confronting the global biodiversity crisis. But it requires a willingness to reach for new opportunities.

For those who love nature, the faltering progress of ecosystem service strategies can serve as a call to action. It's an invitation to break from routine but ultimately ineffective political assumptions and explore more realistic and pragmatic alternatives to conserve our planet's biodiversity.