The Economics of Ecosystems and Biodiversity (TEEB)

The Economics of Ecosystems and Biodiversity (TEEB) initiative is an international study which is drawing attention to the global economic benefits of biodiversity; highlighting the growing costs of biodiversity loss and ecosystem degradation, and drawing together expertise from the fields of science, economics and policy to encourage decision makers to value and conserve nature.The study was proposed by the German Government at a G8+5 meeting in 2007, and will be completed in 2010.

While nature is the basis of the life-support systems on earth and underpins our livelihoods and lifestyles, the value of nature has been overlooked by mainstream economics, it has defied pricing, and bypassed markets. The lack of valuation has become an underlying cause for the observed degradation of ecosystems and the loss of biodiversity.

The TEEB study is intended to build and make an economic case for the conservation of ecosystems and biodiversity. The results of the study will be shared with policy makers, administrators, businesses, and citizens, and are designed to have a profound impact on reframing economic policy in the 21st Century. It is being led by UNEP with financial support from the European Commission, German Federal Ministry for the Environment, and the UK Department for Environment, Food and Rural Affairs.