Putting a Price on Nature – Kate Raworth, Bob Costanza and Eric Gòmez-Baggethun

In this episode we have a debate between Kate Raworth, Bob Costanza and Eric Gòmez-Baggethun on Monetary Valuation of Nature: pragmatic conservation or unhelpful commodification?

This is an edited version of a debate that took place at the Oxford Martin School in February 2023.

Listen to the debate here

You can watch the full video of it here
Notes:
The valuation of nature and ecosystem services in monetary units plays a central role in many forms of environmental governance, including in carbon and biodiversity markets and offsetting schemes which are increasingly under scrutiny. The idea of using monetary units to value nature has precipitated significant debate, with proponents contending that it represents a pragmatic and realist approach to accounting for the environment in decision-making processes, unlocking substantial funding for conservation, while others argue that it can lead to a commodification of nature that ultimately proves inequitable and ineffective in addressing environmental challenges. In the spirit of developing a constructive dialogue on the issue, Kate Raworth will moderate a discussion between two ecological economists, Robert Costanza and Erik Gomez-Baggethun, who will explore the debates and tensions associated with using monetary units to value nature and ecosystem services and role such valuations play in contemporary environmental governance.