Monetising nature

“Finally, conversion of complex landscapes into numerical and monetised metrics instrumentalises peoples and non-human natures so that these conform to a homogenising system in which money is the mediator of all value. This can displace local eco-cultural knowledge, practices and values which may be more benign for biodiversity, thereby reducing options for transferring maximum socio-ecological diversity to our descendants.”

That is Sian Sullivan on writing on Financialisation, Biodiversity Conservation and Equity: Some Currents and Concerns (emphasis in the original).

It is both an important point and also rather stating the obvious. (Important, because in our enthusiasm we are apt to forget the obvious rather too often.) However, I think such analyses sometimes miss the point in failing to fully consider the counterfactual.

We cannot put anywhere as much of nature as we would like into protected areas, and even where we can someone needs to pay for their running costs. So how can we incentivise management of other parts of the world to promote conservation and environmental issues? More to the point how can we do so efficiently and cost-effectively?

Monetisation is often not simple – just ask any REDD project proponent – but once completed you are tapped into the only globally understood system for valuation of products and services and for trade of said values.

The environmental movement is not sufficiently resourced to undertake entirely bespoke conservation in every place of interest. Monetisation may be a crude tool, but it is brutally efficient, in both positive and negative senses. It may also be the only tool available to deliver wider scale conservation.

Hat tip: Just Conservation

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One response to this post.

  1. [...] week I blogged about how, despite all its drawbacks, monetising nature has a lot to be said for it in its ability to tap into the global system of values. As luck would have it I was not the only person pondering these questions that day; David Bent was [...]

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