ecosystem services valuation
EE-koh-sis-tem SER-vis-ez val-yoo-AY-shun
ˈiːkoʊˌsɪstəm ˈsɜːrvɪsɪz ˌvæljuˈeɪʃənListen
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Dictionary meaning
the process of assigning monetary values to the benefits that natural ecosystems provide to human societies, including provisioning services such as food and water, regulating services such as climate stabilization and flood control, cultural services such as recreation and spiritual value, and supporting services such as soil formation and nutrient cycling; valuation techniques include contingent valuation, hedonic pricing, and avoided cost methods; essential for incorporating nature into economic decision-making
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