The report, launched today (9 September) and entitled 'Economics of Ecosystems and Biodiversity (TEEB) for local and regional policymakers', offers "practical guidance" on how to deal with the challenge of biodiversity loss at a local and regional level.
It calls on policymakers to devise local payments for ecosystem services (PES) to make sure that the ecosystem benefits from those that exploiting it.
In addition, 'conservation banking' should be introduced to mitigate the destruction of unique habits as a result of economic development by offsetting the damage with benefits elsewhere in the region.
PES is referred to as "an incentive-based approach to protect ecosystem services by compensating landowners or managers who adopt practices that are favourable to an ecosystem".
The term 'conservation banking' covers both 'habitat banking' and 'species banking', depending on whether the aim of the compensation is to conserve habitat types or increase the population of a particular species.
Private, public payments
According to the report, the payments will target a variety of ecosystem services that contribute to human well-being, from waste water treatment to carbon sequestration and storage, biodiversity protection, landscape beauty maintenance, salinity control and soil erosion prevention.
Payments would include direct private payments in cases where it is in a buyer's interest to secure and monitor the service, such as firms participating in carbon offsetting due to climate change concerns.
Direct public and government payments would secure ecosystem services considered as 'public goods', such as water provision, or where the beneficiaries are difficult to identify.
The report stresses that when the actions of one stakeholder group are carried out at a cost to another, PES can compensate for lost ecosystem-related benefits.
Global biodiversity summit
The report follows similar studies already compiled for business and policymakers (EurActiv 15/07/10; EurActiv 16/11/09).
A final synthesis report of the project will be published next month in Nagoya, Japan, where international negotiations on a new global post-2010 biodiversity vision and target will be held.
Public consultation
An EU public consultation is currently underway on the shortcomings of existing biodiversity policies in the 27 member states and the new approach proposed by the Commission.
With this survey, stakeholders are also asked to submit their views on the importance of assigning an economic value to biodiversity and ecosystem services, as well as identify their preferred market-based instruments to protect nature.
The consultation is open until 22 October.
