1. WHY VALUE? Started with Exxon Valdez – to establish compensation for environmental damage in legal processes. Now as basis for designing governance related to ecosystem services Can create understanding of different views among stakeholders

2. Example: Toronto’s Greenbelt Estimated educates policy-makers Many policy-makers have a poor understanding of what ecosystem services is and how much it is worth for sustaining wellbeing of communities.

3. VALUATION OF ECOSYSTEM

4. VALUATION OF ECOSYSTEM SERVICES Controversial! On a large scale ecosystems are essential to life. This value is not definable. Marginal changes, however, can be captured.

5. WHAT ARE THE VALUES OF ECOSYSTEM SERVICES? Use values (direct and indirect) +Non-use values +Insurance values =Total economic value

6. VALUATION METHODS Preferences Direct methods Indirect methods Market prices Production value Avoidance cost Compensation cost Surrogate markets Travel cost Estate values

7. Activity – valuation role play 1.In your city team, think of five different stakeholders with an interest in an ecosystem related to your inquiry. You may think of stakeholders in your team. 2.Divide the roles among yourself. You can not take on the role of yourself. At least one person has to take on the role of a representative from a poor community. 3.Imagine what values your character sees in the ecosystem. Discuss with the others – can you agree on a common description of the total value? 4.Discuss if there are certain services that you would like to value in more detail when you pursue your inquiry. How could you do that? 5.Reflections in plenary