Essay Example on Monetizing Ecosystems: Valuing Nature for Human Life

Ecosystems services are the conditions and procedures through which common environments and the species that make them up, continue and satisfy human life (Pharo & Daily, 1998). Ecosystems services have also described as the benefits people obtain from the ecosystem (Butler et al., 2005). Monetizing ecosystems encompass, putting a value on natural resources. It arose with some environmentalists deeming the conventional way of conserving nature, of identifying and protecting, be either forest or animal species have been unsuccessful. The practice of this idea is because of the continuous rise in the destruction of habitats and decline in several species despite drastic measures, such as the creation of reserves and implementation of protected areas having. Scientific and philosophical concepts rarely have an impact on the lives of the community.

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Conservations provide minimal profits and jobs if any, hence most people are inclined not to try to conserve the environment. They don't see the benefits directly on to them except those put forward or imposed to them by conservationists.There was a need to create a situation where individuals in a community can benefit from buying and selling these services. Creating a world where they benefit from the profits and at the same time conserve the environment, thus the concept of Monetizingthe ecosystem.

Ethics of Ecosystem Services

Despite the benefits of monetizing the ecosystem, several ethical issues have arisen from the practice. One of the ethical issues that arise by monetizing the ecosystem is, it creates a mindset of valuing the environment as cash instead of acknowledging the environment forits intrinsic and aesthetic ambience that it provides. Another ethical issue is, it's difficult to put a monetary value on nature. Even if somewhat possible, the decision on who has the right and power to sell the resource on behalf of others might create a scenario where some will benefit and others might not.Some would argue that there isn't a better way to conserve the environment or save the world. However, in analyzing the economic impact of monetizing the ecosystem services, it's evident that there is an importance in linking the activities of environmental conservation andhuman activities, with consideration of the ethical issues associated with it.

Conclusion

The concept of valuing the environment may have a positive outcome which will contribute toensuring the prosperity of communities and the environmental conservation of habitats and endangered species.

References

Pharo, E., & Daily, G. (1998). Nature's Services: Societal Dependence on Natural Ecosystems. The Bryologist, 101(3), 475. https://doi.org/10.2307/3244191

Butler, C., Corvalan, C., & Koren, H. (2005). Human Health, Well-Being, and Global Ecological Scenarios. Ecosystems, 8(2), 153-162. https://doi.org/10.1007/s10021-004-0076-0