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Symposium 2013

Solution for The New Economy of Nature

The Challenge

In light of declining public funds for nature conservation and in search of new investment opportunities for the private sector, water, biodiversity, soils and forests (notably their capacity for stor ...

In light of declining public funds for nature conservation and in search of new investment opportunities for the private sector, water, biodiversity, soils and forests (notably their capacity for storing CO2) are being turned into tradable goods. The prospect of going beyond compensation and actually turning nature conservation into a source of profit has captivated economists and nature conservationists alike.

Explore the valuation of ecosystem services as a means to capture environmental damage and compensation needs

Unlike GDP, some new accounting-system models include mechanisms for quantifying either the advantages of ecosystem services or the costs of their destruction, thereby creating a basis for political and economic action. New methods to monetize unintended environmental damage – including loss of ecosystem services - caused by companies (for example. the Deepwater Horizon accident) could help to calculate compensation and put further pressure on these companies to fulfill due diligence and safety measures to avoid incidents.

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