Assessing the environment in purely monetary terms can harm people and the planet.
Relatively few studies try to understand the value of cultural heritage sites such as Nachi Falls, which is also a pilgrimage route in Japan's Kii mountain range.There are more than 50 ways to value the environment, but most research and policymaking focuses on just a handful of methods. These include counting species and evaluating the cost of replacing a service provided by nature.
For example, in proposals for hydroelectric dams, the needs of affected communities are often seen as secondary to those of urban consumers — especially if communities are required to be displaced, resulting in people losing livelihoods and being compelled to change their way of life, the report finds.
There is strong evidence that valuing nature on the basis of market prices is contributing to the present biodiversity crisis, said Unai Pascual, an economist at the Basque Centre for Climate Change in Leioa, Spain, at the launch in Bonn, Germany. “Many other values are ignored in favour of short-term profit and economic growth,” added Pascual, who co-chaired the assessment.was approved by 139 governments on 8 July.
Only one-fifth of the studies valued biodiversity according to sociocultural criteria. Those that did included studies on the importance to people of a sacred site; and research on the value that someone attaches to the place where they grew up. Sociocultural values do not necessarily have a numerical quantity, or price tag.
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