Global economic growth failing to consider nature in policy decision, report finds

The way nature is valued in political and economic decisions is both a key driver of the global biodiversity crisis and a vital opportunity to address it, according to a four-year methodological assessment by 82 top scientists and experts from every region of the world.

Approved by representatives of the 139 member States of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), the Assessment Report on the Diverse Values and Valuation of Nature finds that there is a dominant global focus on short-term profits and economic growth, often excluding the consideration of multiple values of nature in policy decisions.

Economic and political decisions have predominantly prioritised certain values of nature, particularly market-based instrumental values of nature, such as those associated with food produced intensively. Although often privileged in policymaking, these market values do not adequately reflect how changes in nature affect people’s quality of life.

Deeply cross-disciplinary and, based on a large review conducted by experts in social science, economics and the humanities, the Values Assessment draws on more than 13,000 references – including scientific papers and information sources from indigenous and local knowledge.

To help policymakers better understand the very different ways in which people conceive and value nature, the Report provides a novel and comprehensive typology of nature’s values.

In order to make this typology useful for decision-making, the authors present four general perspectives. These are: living from, with, in and as nature. Living from nature emphasizes nature’s capacity to provide resources for sustaining livelihoods, needs and wants of people, such as food and material goods.

The Report finds that the number of studies that value nature has increased on average by more than 10% per year over the last four decades. The most prominent focus of recent (2010-2020) valuation studies has been on improving the condition of nature (65% of valuation studies reviewed) and on improving people’s quality of life (31%), with just 4% focused on improving issues around social justice. 74% of valuation studies focused on instrumental values, with 20% focused on intrinsic values, and just 6% focused on relational values.

Prof. Balvanera said, “The Values Assessment provides decision-makers with concrete tools and methods to better understand the values that individuals and communities hold about nature.

The authors identify four values-centred ‘leverage points’ that can help create the conditions for the transformative change necessary for more sustainable and just futures:

• Recognizing the diverse values of nature
• Embedding valuation into decision-making
• Reforming policies and regulations to internalize nature’s values
• Shifting underlying societal norms and goals to align with global sustainability and justice objectives

Among the other tools offered by the Report to strengthen the consideration of greater diversity of values of nature in decision-making are: an exploration of entry points for valuation across all parts of the policy cycle; six interrelated values-centred guidelines  to promote sustainability pathways; an evaluation of the potential of different environmental policy instruments to support transformative change towards more sustainable and just futures by representing diverse values, and a detailed illustration of the required capacities of decision makers to foster the consideration and embedding of the diverse values of nature into decisions.

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