Session 3 The Road Ahead TEEB Training Working

Session 3: The Road Ahead TEEB Training

Working with the value of nature q The value of nature has been overlooked in economic signals, policy instruments, and public investments and national accounts q Awareness of these values is growing and policymakers are beginning to change their approach to natural capital q Better estimates of these values are also becoming increasingly available to these decision makers are beginning to change their approach to natural capital ©Grida Arendal TEEB Training

A framework for sustainable action Essential components q Identifying common and differentiated responsibilities and interests amongst stakeholders: • Understanding where partnerships can be built and cooperation fostered • Engaging business • Further engaging with and recognising the role of other key stakeholders (local communities, indigenous groups, academics) • Through working with citizens – building public recognition of the value of biodiversity q Identifying opportunities for action at the international level q Identifying opportunities for action at the national level TEEB Training

Tools for delivering change q Integrate the evidence base for better measurement, monitoring and accounting q Developing a cultural assessment that takes the wider ecosystem values into account over longer periods of time q Adjusting incentives in line with positive and negative environmental impacts q Getting prices right, greening markets and greening the supply chain q Reforming subsidies q Using regulation and good governance to raise the baseline q Expanding and managing protected area networks on land at sea TEEB Training

“It is not enough to know, one should always want; it is not enough to want, one should also act” (Johann Wolfgang van Goethe, 1749 -1832) TEEB Training

Module 5 Summary q In order to improve the stewardship of natural capital, it is essential that biodiversity and ecosystem services values are integrated into decision making processes q The execution of a TEEB study can help policymakers address more effectively the policy issues at hand, assist with the selection of appropriate responses, and guide decision making processes more towards sustainable action q Once these values are known, and depending on the policy context, there a series of different ways to respond via a range of different policy options/instruments q There already exist many examples across the globe where responses have been successful q The road ahead is a road where we work WITH the value of nature rather than AGAINST it TEEB Training

“Society must urgently replace its defective economic compass so that it does not jeopardize human well-being and planetary health through the under-valuation and consequent loss of ecosystems and biodiversity. ” ©TEEB@CBD COP 9, Bonn 2008 Pavan Sukhdev, TEEB Study Leader 29. 5. 2008, CBD COP 9 10/31/2021 TEEB Training 7

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