transport of resources and land use. On the premise that all businesses rely on and affect biodiversity and ecosystem services, TEEB identifies seven key action points that business should follow for conservation of biodiversity and sustainable use (Table 2: Key Action Points for Business in Relation to Preservation of Biodiversity and Sustainable Use).

It also indicates risks and opportunities in business activities. For example, as risks for business activities, it points out that shortages of raw materials and increased costs for procuring materials are conceivable due to declines in living resources. It says that such risks can be effectively managed by setting up appropriate systems. Meanwhile, an example of an opportunity is securing stable and sustainable resource procurement. In addition, it views new markets of certified products that give consideration to conservation of biodiversity and sustainable use and ecosystem services as new business opportunities (Table 3: New Markets for Biodiversity and Ecosystem Services).

## (4) Cooperation between Conservation of Biodiversity and Measures against Global Warming

Conservation of biodiversity and measures against global warming are related to each other on various points. It is feared that global warming is having serious effects on biodiversity, such as disrupting ecosystems and causing species to become extinct. For example, it is pointed out that an increase of carbon dioxide, which is one of the main greenhouse gases, in the ocean would lead to loss of coral reefs, which leads to loss of the ecosystem services obtained from coral reefs. Meanwhile, conservation of biodiversity is thought to be a highly cost-effective way to slow down global warming through absorption of carbon dioxide by forests and adapting to global warming by preserving freshwater and preventing natural disasters. For example, according to TEEB, by reducing the speed of deforestation by half by the year 2030, damages estimated to be over USD 3.7 trillion caused by climate change would be avoided. Further, according to TEEB the planting of mangroves along the coast of Vietnam required USD 1.1 million, but it had the effect of saving the annual USD 7.3 million to maintain levees. From such perspectives, there are expectations for efforts that take into consideration both preservation of biodiversity and counter measures global warming.

## Table 2 Key Action Points for Businesses in Relation to Conservation of Biodiversity and Sustainable Use

1) Identify the impacts and dependencies of your business on biodiversity and ecosystem services (BES)

2) Assess the business risks and opportunities associated with these impacts and dependencies

3) Develop BES information systems, set SMART targets, measure and value performance, and report your results

4) Take action to avoid, minimize and mitigate BES risks, including in-kind compensation ('offsets') where appropriate

5) Grasp emerging BES business opportunities, such as cost-efficiencies, new products and new markets

6) Integrate business strategy and actions on BES with wider corporate social responsibility initiatives

7) Engage with business peers and stakeholders in government, NGOs and civil society to improve BES guidance and policy

Source: "The Economics of Ecosystems and Biodiversity (TEEB)"

Table 3 New Markets for Biodiversity and Ecosystem Services

Market opportunities	Market size (USD per annum)
2008	2020 (Estimate)	2050 (Estimate)
Certified agricultural products	40 billion*	210 billion	900 billion
Certified forest products	5 billion (FSC certification)	15 billion	50 billion
Carbon offsets	21 million (2006)	10 billion	10 billion
Payments for water-related ecosystem services (Government)	5.2 billion	6 billion	20 billion
Payments for water-related ecosystem services (Voluntary by businesses)	5 million (several spots in Costa Rica and Ecuador)	2 billion	10 billion
Payment for other ecosystem services (Government)	3 billion	7 billion	15 billion
Biodiversity offsets in regulated markets	3.4 billion	10 billion	20 billion
Voluntary biodiversity offsets	17 million	100 million	400 million
Bio-prospecting agreements	30 million	100 million	500 million
Conservation of private land	8 billion (US)	20 billion	Difficult to predict

$ ^{*} $ 2.5% of global food and beverage market

Source: “The Economics of Ecosystems and Biodiversity (TEEB)”