Mace, G;
(2014)
Biodiversity: Its Meanings, Roles, and Status.
In: Helm, D and Hepburn, C, (eds.)
Nature in the Balance: The Economics of Biodiversity.
Oxford University Press: Oxford, UK.
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Abstract
This chapter reviews biodiversity science concepts that lead to both definitions and metrics for tracking change. Beyond its general meaning, the term “biodiversity” is now common in a wide range of situations, from ecology, through conservation biology, nature conservation, environmental sciences, and environmental policy. Common approaches to measuring biodiversity are outlined and its roles, state, and trends described in way that is relevant for economics. There are many perceptions of what biodiversity includes and how to measure changes over time and space. It is argued that the starting point for economic valuation must come from accounting properly for the benefits that flow from biodiversity. Included are the general categories of intrinsic and extrinsic values, ecosystem services, heritage, adaptability, and resilience, and relevant components and metrics of biodiversity for each of these are indicated, and areas where there are significant gaps in knowledge and information identified.
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