This paper gives an overview of the value of ecosystem services of 10 main biomes expressed in monetary units. In total, over 320 publications were screened covering over 300 case study locations. Approximately 1350 value estimates were coded and stored in a searchable Ecosystem Service Value Database (ESVD). A selection of 665 value estimates was used for the analysis. Acknowledging the uncertainties and contextual nature of any valuation, the analysis shows that the total value of ecosystem services is considerable and ranges between 490 int$/year for the total bundle of ecosystem services that can potentially be provided by an ?average? hectare of open oceans to almost 350,000 int$/year for the potential services of an ?average? hectare of coral reefs. More importantly, our results show that most of this value is outside the market and best considered as non-tradable public benefits. The continued over-exploitation of ecosystems thus comes at the expense of the livelihood of the poor and future generations. Given that many of the positive externalities of ecosystems are lost or strongly reduced after land use conversion better accounting for the public goods and services provided by ecosystems is crucial to improve decision making and institutions for biodiversity conservation and sustainable ecosystem management.Peer reviewe

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Several economic reviews demonstrate the substantial costs related to climate change and consequently call for early action. These reviews, however, have been limited to measuring 'objective' risks and expected material damage related to climate change. The 'subjective' perceived risk of climate change and society's willingness to pay (WTP) to avoid these risks are expected to provide an important additional motivation for direct action. We investigate whether and why air travel passengers-an increasingly important source of greenhouse gas emissions-are supportive of measures that increase the cost of their travel based on the polluter pays principle and compensate the damage caused by their flight. Compared to the results of the few previous studies that have elicited WTP estimates for climate policy more generally, our results appear to be at the lower end of the scale, while a comparison to estimates of the social cost of carbon shows that the average WTP estimate in this study is close to the estimated marginal damage cost. Although significant differences are found between travellers from Europe, North America, Asia and the rest of the world, we show that there exists a substantial demand for climate change mitigation action. The positive risk premium over and above the expected property damage cost assessments should be accounted for more explicitly in economic reviews as it will add to the burden of proof of direct action. Measurements of passenger WTP will help policy makers to design effective financial instruments aimed at discouraging climate-unfriendly travel activities as well as to generate funds for the measures directed at climate change mitigation and adaptation. Based on stated WTP by travellers to offset their greenhouse gas emissions, funds in the order of magnitude of €23 billion could be generated annually to finance climate change mitigation activities.

Coral reefs are highly productive ecosystems that provide a variety of valuable goods and services, including recreational opportunities. The open-access nature and public good characteristics of coral reefs often result in them being undervalued in decision making related to their use and conservation. In response to this, there now exists a substantial economic valuation literature on coral reefs. For the purposes of conducting a meta-analysis of this literature, we collected 166 coral reef valuation studies, 52 of which provided sufficient information for a statistical meta-analysis, yielding 100 separate value observations in total. Focusing on recreational values, we use US$ per visit as the dependent variable in our meta-analysis. The meta-regression results reveal a number of important factors in explaining variation in coral reef recreational values, notably the area of dive sites and the number of visitors. Different valuation methods are shown to produce widely different values, with the contingent valuation method producing significantly lower value estimates. Using a multi-level modelling approach we also control for authorship effects, which proves to be highly significant in explaining variation in value estimates. We assess the prospects for using this analysis for out-of-sample value transfer, and find average transfer errors of 186%. We conclude that there is a need for further high-quality valuation research on coral reefs.

Rapid environmental change is driving the need for complex and comprehensive scientific information that supports policies aimed at managing natural resources through international treaties, platforms, and networks. One successful approach for delivering such information has been the development of essential variables for climate (1), oceans (2), biodiversity (3), and sustainable development goals (4) (ECVs, EOVs, EBVs, and ESDGVs, respectively). These efforts have improved consensus on terminology and identified essential sets of measurements for characterizing and monitoring changes on our planet. In doing so, they have advanced science and informed policy. As an important but largely unanticipated consequence, conceptualizing these variables has also given rise to discussions regarding data discovery, data access, and governance of research infrastructures. Such discussions are vital to ensure effective storage, distribution, and use of data among management agencies, researchers, and policymakers (5,6).Although the current essential variables frameworks account for the biosphere, atmosphere, and some aspects of the hydrosphere (1-4), they largely overlook geodiversity-the variety of abiotic features and processes of the land surface and subsurface (7). Analogous to biodiversity, geodiversity is important for the maintenance of ecosystem functioning and services (8), and areas high in geodiversity have been Mining is one example of the human impact on geodiversity. Active mines cause a decrease in local biodiversity, but in some cases they can provide an important habitat for specialized and rare species after the mine has been abandoned. Image credit: Shutterstock/1968.