Putting a Price On the Priceless: Monetary Valuations of Ecosystem Services

Photo by Mitchell Kmetz on Unsplash

The IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) defines ecosystem services as the benefits people obtain from ecosystems, such as food, water, medicine, and recreation, as well as the non-material benefits that people derive from ecosystems, such as cultural, spiritual, and aesthetic values. The “four types of…