An evaluation of monetary and non-monetary techniques for assessing the importance of biodiversity and ecosystem services to people in countries with developing economies

Biodiversity supports a range of ecosystems services that are of fundamental importance to people in poor countries. Economic valuation of biodiversity is important for the development of policies that protect biodiversity and alleviate poverty. This paper provides an evaluation of monetary and non-monetary techniques for assessing the value of biodiversity to people in least developed countries (LDCs). Specifically, research questions include:1)To what extent have monetary and non-monetary techniques been used to assess the value of biodiversity and ecosystem services in LDCs?2)What are the key methodological, practical, epistemological and policy challenges to assessing the value of biodiversity and ecosystem services in LDCs?3)How can valuation methods be improved to allow more accurate valuation in LDCs?

► Only one in ten biodiversity valuation studies were conducted in the poorest countries. ► Half of the published papers valuing biodiversity in poor countries had no input from researchers from those countries. ► There is a need to build capacity on valuing biodiversity in the research and policy making communities of poor countries. ► Research is urgently needed to review and develop new and innovative approaches to valuing biodiversity in poor countries. ► Incorporating participatory, deliberative and action research methods into valuation can improve valuation.