Ecosystems functions and genetic diversity: TEEB raises challenges for the economics discipline

Implementation context and science-policy interfaces: Implications for the economic valuation of ecosystem services

“…As an example, the Economics of Ecosystems and Biodiversity (TEEB) framework which created considerable attention (although criticized from an academic point of view, Tisdell et al, 2014) for conceptualizing and standardizing ES valuation (TEEB, 2010), states in its study report for local and regional policy-makers that it is "intended to guide policy-makers in designing their own processes for appraising and considering nature's benefits" (TEEB 2010; p.7). Hence, decision-making processes are seen as having to be adapted in order to better integrate the results of valuation.…”

The Value Landscape in Ecosystem Services: Value, Value Wherefore Art Thou Value?

“…Along similar lines, others have argued that TEEB is a driver of neoliberalist capitalism that functions to translate the "natural" into market realities and the "virtual" [65]. Finally, some claim that the focus of TEEB has been too overly concerned with conceptualizing ecosystems and biodiversity in terms of natural capital, with the consequence being that it has ignored other forms of ecosystems and genetic diversity that are produced or co-produced by and with humans [66]. Furthermore, Tisdell [66] also argues that TEEB does not sufficiently highlight the fact that not all natural ecosystems and genetic material may be beneficial human assets, and in this regard may actually act as economic liabilities.…”

“…Finally, some claim that the focus of TEEB has been too overly concerned with conceptualizing ecosystems and biodiversity in terms of natural capital, with the consequence being that it has ignored other forms of ecosystems and genetic diversity that are produced or co-produced by and with humans [66]. Furthermore, Tisdell [66] also argues that TEEB does not sufficiently highlight the fact that not all natural ecosystems and genetic material may be beneficial human assets, and in this regard may actually act as economic liabilities. Nevertheless, there remains a general consensus that TEEB continues to represent an important step on the journey to a wider acceptance and recognition that the ecosystem service's story does require an economic narrative, but one that is sympathetic to and acknowledges the complexities and critiques widely aired in academic and policy circles [62].…”