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The Wealth Of Nature: Valuing Ecosystem Services

  • A. Myrick Freeman III

    (William D. Shipman Professor of Economics Emeritus, Bowdoin College)

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    In May, 2009, the U. S. Environmental Protection Agency (EPA) released a report titled "Valuing the Protection of Ecological Systems and Services" (U.S. EPA, 2009). I was a member of the EPA Science Advisory Board's Committee on Valuing the Protection of Ecological Systems and Services (C-VPESS) that produced the Report. In this paper, I will try to clarify what we mean by the terms "ecosystem services," "value," and "the wealth of nature." I will also try to see what lessons can be drawn from the C-VPESS Report and the 5 years of Committee deliberations that lie behind it and what conclusions and implications this work has for EEPSEA researchers working in the field of the economics of natural resources.

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    File URL: http://www.idrc.ca/uploads/user-S/12792703701Hanoi-Paper_(Rick_Freeman)-Final-7-10.pdf
    File Function: First version, 2010
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    Paper provided by Economy and Environment Program for Southeast Asia (EEPSEA) in its series EEPSEA Special and Technical Paper with number sp201007s2.

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    Date of creation: Jul 2010
    Date of revision: Jul 2010
    Handle: RePEc:eep:tpaper:sp201007s2
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