The value of nature has a range of dimensions from the spiritual to the economic. As the International Year of Biodiversity approaches in 2010, TEEB - a study on The Economics of Ecosystems and Biodiversity - is showing that the failure of markets to adequately consider the value of ecosystem services is of concern not only to policy makers, but also has direct consequences for business and all of us as citizens and consumers. The study is emphasising the need for change.
TEEB was launched by Germany and the European Commission in response to a proposal by the G8+5 Environment Ministers (2007) to develop a global study on the economics of biodiversity loss. This independent study, led by Pavan Sukhdev, is hosted by the United Nations Environment Programme with financial support from the European Commission, Germany and the UK, more recently joined by Norway, the Netherlands and Sweden. For more information on TEEB please visit 
www.teebweb.org.
The lack of market prices for ecosystem services and biodiversity means that the multiple benefits we derive from these goods (often public in nature) are usually neglected or under-valued in decision-making. Understanding and capturing the value of ecosystems can lead to better informed and possibly different decisions; accounting for such value can result in better management; investing in natural capital can yield high returns; and sharing the benefits of these actions can deliver real benefits to those worst off in society. Put simply, making the benefits of biodiversity and ecosystem services visible to society is necessary to pave the way for more efficient policy responses.
The mosaic of national Action Days around International Biodiversity Day on 22 May 2010 provides a starting point to demonstrate some of these values in a very practical way. You are encouraged to consider a wide range of options when selecting an ecosystem for the national Action Day in your country. Ecosystem benefits you may want to think about include, water provision, climate stabilization, pollination for agriculture, tourism, coastal protection, nutrition, provision of genetic resources, carbon sequestration, water purification, etc.
