Rio de Janeiro, Brazil - During the Rio+20 side event in RioCentro, Brazil on 15 June the Economics of Ecosystems and Biodiversity (TEEB) for Water and Wetlands Initiative will be launched. The initiative utilises the TEEB approach to generate a better understanding of the ecosystem service values of water and wetlands to encourage additional policy momentum and business commitment for their conservation, investment and wise use.
With TEEB – Water and Wetlands, the role of wetlands as natural capital is promoted; the contribution of their ecosystem services, implications of loss of their services and how economic approaches could help mainstreaming their role in economic development. Placing an economic value on ecosystem services raises awareness that water and wetland services are valuable and indispensible; services that nature provides for free.
Wetlands International’s input
Wetlands International staff Ritesh Kumar is part of the core project group, and has been a key mover of the whole idea.
The TEEB Water and Wetlands Initiative builds on the TEEB project (www.teebweb.org): a major international initiative to draw attention to the global economic benefits of biodiversity, to highlight the growing costs of biodiversity loss and ecosystem degradation, and to draw together expertise from the fields of science, economics and policy to enable practical actions moving forward. The TEEB initiative itself has already demonstrated the policy usefulness of presenting the value of nature into decision making.
About the side event
This Side Event will launch the initiative and seek input and engagement into the process. Following an introduction of the project, and its objectives and key messages, there will be a panel discussion with different stakeholders. Time will be allotted for questions and an open discussion with participants. See all details here (PDF) and on the Rio+20 website or download the flyer: http://www.ramsar.org/pdf/PrintedTEEB.pdf.