What Has Nature Ever Done for Us? The Financial Value of ‘Ecosystem Services’

money-tree

The near extinction of vultures in India has hardly been reported in the West, and yet their disappearance has had huge implications for the subcontinent, causing major social and economic impacts—and affecting the lives of hundreds of millions of people.

The reason for this is that vultures have always performed an essential cleaning function, eating the flesh from the man dead animals that litter the countryside.  A hungry flock was once able to remove the carcass of a dead cow in a matter of minutes.  But now they are gone, and the fly-ridden corpses rot in the hot sun.

The vultures were accidentally killed off because anti-inflammatory drugs given to cattle proved lethal to the birds that ate the dead animals.  And with no vultures to clean up, the surplus carcasses facilitated an explosion in the population of wild dogs.  These dogs spread rabies, a disease that has killed tens of thousands of people, and cost the Indian economy a figure estimated in excess of $30 billion.

This is but one of thousands of examples of natural services that are (or were) provided free by nature, but which cost massive amounts of money to compensate for when the ecology is disrupted.  That cost is now the subject of a new branch of economics concerned with so-called ecosystem services.

Experts are beginning to put a price on nature—and it is huge.

For example, Hurricane Katrina cost the U.S. $81 billion and the damage still remains.  New Orleans became much more vulnerable to big storms as the mangrove forests in the Mississippi River delta were stripped away to make space for shipping lanes and aquatic farms.

The economic value of some intact mangrove forests is calculated at many times more than the value derived from their clearance to make way for intensive shrimp farms.  The benefits that mangroves provide in flood protection and as a nursery for oceanic fish is difficult to calculate compared to the profits of a shrimp farm, but the value is there nonetheless.

Even those living in cities far from the world of nature will be able to relate to nature supporting our civilization—from water flowing through the faucet, a bowl of fruit on the kitchen table, and the ice cream in the freezer—because author Tony Juniper reveals these nature tales with compelling relevance and immediacy.

For more information about the book, please go to Synergetic Press at www.synergeticpress.com

Posted on September 25, 2013, in ARTICLES and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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