1.4.

The value of biodiversity

We value it because How do we value biodiversity? we like it Spiritual, and aesthetic values Functional value Ecosystem goods and services Economic value Existence and option value We value it because otherwise nature may not work as well If nature does not work, we will get in trouble too We value it because we want to make money of it

Painting by Ray Troll

We value it because we want it to exist (and maybe use it in the future)

Spiritual and aesthetic value

Quality of life Tourism Micro-climate Human habitat
Plant biomass (g m-2)

Functional value: productivity

Source: Loreau et al. (2001) Science 294:804-808

and stability

Ecosystem goods and services

Products and processes of natural ecosystems that sustain life and are critical to human welfare, e.g.
Food production (soil fertility, pollination, erosion control, fish production) Clean air and water Carbon fixation Natural fibers Pharmaceuticals

Source: Tilman et al. (2006) Nature 441:629-632

Human society
Impacts

An example from coastal ecosystems

Biodiversity
Genetic Species Ecosystem

Linkage

7% extinct

Ecosystem functioning
Carbon and nutrient cycling Primary and secondary productivity Food and habitat provision Transformation of waste products

Benefits

Linkage?

36% collapsed

Ecosystem services
Water and air quality control Soil and seafood production Tourism and recreation Ecosystem resilience

Source: Worm et al. 2006. Science 314:787-790

Loss of diversity

leads to loss of services

Source: Worm et al. 2006. Science 314:787-790

Source: Worm et al. 2006. Science 314:787-790

leads to increased risks

Oyster example
Removal of Oysters Algal blooms

Source: Worm et al. 2006. Science 314:787-790

How are services valuated?

Products:
Total market value per year Hedonic pricing Factor income

Economic value: long-term benefits

Natural habitats have typically larger longterm value, conversion larger shortterm benefits

Processes:
Avoided cost Replacement cost Contingency evaluation (willingness to pay)

Source: Balmford et al. (2002) Science 297:950-953

Weighing different services

Restoring diversity and services

Source: Barbier et al. (2008) Science 319:321-323

Source: Worm et al. 2006. Science 314:787-790

Economic value: Insurance function Insurance function

Salmon catch history in Bristol Bay, Alaska Cite Hilborn et record al. catches Many populations maintain over time, buffer effects of climatic changes

Biodiversity begets fisheries sustainability

More species Fewer collapses Faster recovery More predictable More productive
Source: Worm et al. 2006. Science 314:787-790

Source: Hilborn et al. 2003. PNAS 100:6564-6568

Existence and option value

Existence value: the value that people place on simply knowing that something exists, even if they will never see it or use it. Option value: the potential value of the resource for future (direct or indirect) use
Deep-sea hydrothermal vent field

Summing up
Biodiversity sustains a range of important ecosystem functions and services Ecosystem services are essential for human well-being The long-term economic benefits of biodiversity conservation are often substantial Economic and ethical arguments are both important for biodiversity conservation

Rain forest