A Developing Country Perspective
Edited by Pushpam Kumar and Ibrahim Thiaw
One of the serious downsides of conventional economics is the way it is leading to the over-consumption of the planet’s productive, life-support systems. Sound and solid economic evaluation of ecosystem services, such as those generated by forests or freshwaters, holds real promise in reversing these trends. Capturing costs and benefits can also assist towards objectivity and credibility in the overall management strategy of ecosystems and will also assist policy-makers in estimating the impacts of policy reforms in different sectors and the implications for different societal groups. The importance of economic valuation was highlighted in the discourse at the United Nations Conference on Sustainable Development (Rio+20), held in Rio de Janeiro, Brazil, in June 2012 – 20 years after the 1992 Earth Summit in the same city.