. Agenda item 3.11: Economic valuation of biological diversity

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Agenda Item 3.11: Economic valuation of biological diversity

The SBSTTA,

Recalling that recommendation I/9 decided that the SBSTTA would consider at its second meeting advice to the Conference of the Parties on the economic valuation of biological diversity and its components, in particular in relation to access to genetic resources,

Recalling also that decision II/11 of the Conference of the Parties requested the Executive Secretary to compile an annotated list of studies and other relevant information on the social and economic valuation of genetic resources, including the demand by industry for genetic resources,

Having examined the Note prepared by the Secretariat (UNEP/CBD/SBSTTA/2/13),

Recognizing that a better understanding of the full value of biological diversity at the genetic, species, and ecosystem level will greatly assist Parties in their efforts to implement effective policy and management measures to meet the threefold objectives of the Convention,

Recognizing that information on the economic value of biological diversity and its components is severely deficient, and that methods for providing this information need further development,

Recognizing also that biological diversity and its components provide a wide range of benefits, representing significant use and non-use values. Some of these values are difficult to define fully in terms of economic value. These include intangible, yet critical, socio-cultural values and existence values,

Further recognizing that, while more information on economic values is needed, the lack of this information need not delay the implementation of economically and socially sound incentive measures to sustainably manage biological diversity. In this regard, consideration of incentives having a perverse impact on biological diversity and its components should be regarded as a priority area,

Recommends:

1. That future work should include regular review and syntheses of current information, case studies of economic value, research into appropriate and cost-effective methodologies for determining these values, and means of facilitating access to this information.

2. That economic valuation should be integrated into the sectoral and thematic items under the Medium-Term Programme of Work of the Conference of the Parties, and should be reflected as appropriate in relevant agenda items including, in particular, incentive measures, and also agricultural biodiversity, genetic resources, environmental impact assessments, inland water ecosystems, and marine and coastal biodiversity, taking the ecosystem approach as the primary framework of action to be taken under the Convention.

3. That the Conference of the Parties encourage Parties to draw upon research into the economic valuation of biological diversity produced by, inter alia, regional and economic groupings in order to assist the appropriate development of policy and management measures for conservation and sustainable use;

4. That the Conference of the Parties, in its consideration of Incentive Measures at its third meeting, emphasize the importance of developing well-targeted local level incentives, participatory approaches to the design of new measures, and capacity-building.