A range of methods have been developed to value ecosystems and the services they provide, as well as the costs of conservation. The methods available are increasingly sensitive and robust, but they are often incorrectly used. One reason is poor understanding of the purposes of valuation and what questions it can, or cannot, answer. As a result, decision makers may get misleading guidance on the value of ecosystems and their conservation.

 

In this context, staff of the World Bank, IUCN—The World Conservation Union, and The Nature Conservancy have worked together to clarify the aims and uses of economic valuation, focusing on the types of questions that valuation can answer, and the type of valuation that is best suited to each purpose.

 

This document is the result of that co-operation. It does not seek to provide a detailed “how to” manual on economic valuation. This report aims instead to provide guidance on how economic valuation can be used to address specific, policy-relevant questions about nature conservation.