1997, Vol 387 pp. 253-260 | Robert Costanza, Ralph d'Arge, Rudolf de Groot, Stephen Farber, Monica Grasso, Bruce Hannon, Karin Limburg, Shahid Naeem, Robert V. O'Neill, Jose Paruelo, Robert G. Raskin, Paul Sutton, & Marjan van den Belt
The article "The Value of the World's Ecosystem Services and Natural Capital" by Robert Costanza and colleagues estimates the economic value of 17 ecosystem services across 16 biomes, based on a synthesis of published studies and original calculations. The total estimated value of these services is between $16$ and $54$ trillion USD per year, with an average of $33$ trillion USD per year. The majority of this value is currently outside the market system, such as in services like gas regulation, disturbance regulation, waste treatment, and nutrient cycling. The study highlights the importance of ecosystem services to human welfare and the need to give natural capital adequate weight in decision-making processes. The authors acknowledge the limitations and uncertainties in their estimates, emphasizing the need for further research to better understand and value these services. They also discuss the implications of ecosystem services for global economic systems and the potential impact of their loss or degradation.The article "The Value of the World's Ecosystem Services and Natural Capital" by Robert Costanza and colleagues estimates the economic value of 17 ecosystem services across 16 biomes, based on a synthesis of published studies and original calculations. The total estimated value of these services is between $16$ and $54$ trillion USD per year, with an average of $33$ trillion USD per year. The majority of this value is currently outside the market system, such as in services like gas regulation, disturbance regulation, waste treatment, and nutrient cycling. The study highlights the importance of ecosystem services to human welfare and the need to give natural capital adequate weight in decision-making processes. The authors acknowledge the limitations and uncertainties in their estimates, emphasizing the need for further research to better understand and value these services. They also discuss the implications of ecosystem services for global economic systems and the potential impact of their loss or degradation.