Valuing Ecosystem Services: Theory, Practice, and the Need for a Transdisciplinary Synthesis

Liu,S., R. Costanza, S. Farber and A. Troy

Publication Date:

Ecosystem services valuation (ESV) is the method to tackle such a challenge. ESV is the process of assessing the contributions of ecosystem services to sustainable scale, fair distribution, and efficient allocation. It is a tool that (1) provides for comparisons of natural capital to physical and human capital in regard to their contributions to human welfare; (2) monitors the quantity and quality of natural capital over time with respect to its contribution to human welfare; and (3) provides for evaluation of projects that will affect natural capital stocks.

Resource Type:
Peer-reviewed Article

Annals of the New York Academy of Sciences