Marking the celebration of Wildlife Week 2020 Minister of Environment, Forest and Climate Change, Shri Prakash Javadekar on October 5, 2020 launched a report of the CZA-TERI titled “Economic valuation of ecosystem services, National Zoological Park, New Delhi ‘.
- The report highlights the importance of habitats such as zoos to human wellbeing and the need of replication across India.
- The study first of its kind in India and perhaps the entire World, pegs the total annual economic value of the ecosystem services at around 423 crore (2019-20) whereas, the total value of the one-time cost of services such as carbon storage and land value provided by the zoo is estimated to be around 55,000 crore.
Economic valuation of ecosystem services
- Economic valuation of ecosystem services provides a way of valuing the many benefits that nature provides and helps ‘make the contribution of nature to livelihoods and economies visible’
- Ecosystem services are the direct and indirect contributions of ecosystems to humankind’s well-being which support our survival and quality of life.
The ecosystem services include:
- biodiversity conservation,
- employment generation,
- carbon sequestration,
- education and research,
- recreational and cultural.
(Source: PIB)
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