Table 1 Examples of Assessing the Monetary Value of Ecosystem Services

Item	Monetary value of ecosystem services (estimate)	Source
Effects of reducing emissions of greenhouse gases through forest conservation	Halving deforestation rates by 2030 would avoid damages from climate change estimated at more than USD 3.7 trillion.	TEEB
Final Report
Loss caused by deterioration of forest ecosystems	Economic loss of approximately JPY 220-500 trillion by 2050	TEEB
Interim Report
Preservation of the world's protected areas	Although approximately USD 45 billion is necessary per year for management of protected areas, the value of the carbon dioxide, drinking water preservation, flood convention brought about by protected areas is USD 5 trillion per year.	TEEB D1
(for Policymakers)
Economic loss caused by reduction of the world's fishing resources	If over-exploitation continues, it will reduce the income from global marine fisheries by USD 50 billion annually, compared to a more sustainable fishing scenario.	TEEB
Final Report
Agriculture production through insect pollination	Total economic value of insect pollination worldwide is estimated at 153 billion Euros annually.	TEEB
Final Report
Value of coral reef systems	·The net benefit from recreation provided by the 166,000 thousand hectares of Hawaii's coral reef is USD 306 million per year.
·The worldwide economic effects of fish cultivation, tsunami damage reduction, tourism resources, are USD 30 - 172 billion.	TEEB
Final Report
Protection against tsunami by mangrove forests	At a cost of USD 1.1 million to protect and plant mangrove forests in Vietnam, USD 7.3 million in expenses for maintaining levees would be saved.	TEEB D1
(for Policymakers)
Economic value brought about by preserving the world's wetlands	The economic effects brought about by the world's 63 million hectares of wetlands through cultivation of fish and shellfish, tourism resources, is USD 3.4 billion.	TEEB D2
(for local municipalities)
Tree planting that enhances urban life	In Canberra, Australia, the results of planting 400,000 trees to regulate microclimate and reduce of pollution and thereby improve urban air quality, was reduction of energy costs for air-conditioning as well as store and sequester carbon These benefits are equivalent to approximately USD 20 - 67 million over the period 2008-2012.	TEEB
Final Report

Source: Created by the Ministry of the Environment, using information from "The Economics of Ecosystems and Biodiversity (TEEB)"

Figure 2 Comparison of Costs Required for Securing Purified Water in New York City USD 100 million

cannot necessarily be used in all cases. Some reasons for this are that there is insufficient scientific knowledge about the functions of biodiversity and ecosystems, and there is uncertainty in assessing value due to the limits of economic methods. Therefore, keeping in mind that there are limits to its assessment it is important to actively make efforts that lead to conservation of biodiversity and ecosystem services and to take measures that follow the principle of prevention by warding off unnecessary development in advance.

## (2) Biodiversity as Natural Capital

TEEB views biodiversity as natural capital in various scenes. Natural capital is an extension of the economic concept of capital to nature. In other words, biodiversity is handled as stock (an asset) which continues to provide ecosystem services in the future.

A typical example is a “protected area.” Specifically, protected areas of forests would provide with supply services such as timber, that has utility value, and supply service of fruits, adjustment services such as alleviation and adaptation for climate change, and cultural services such as eco-tourism, forest bathing trip and mental relaxation. By establishing protected areas and appropriately managing and using them, it becomes possible to persistently use ecosystem services, even though management and other costs are involved. Therefore, investing in conservation of ecosystems in order to view biodiversity as natural capital and work toward the maintenance, reactivation, and strengthening of ecosystem services can be said to be meaningful from the perspective of economic efficiency and long-term benefits.

## (3) Business and Biodiversity

Business activities are closely related to biodiversity in a variety of situations, such as procurement and