Human societies derive many essential goods from natural ecosystems, including seafood, game animals, fodder, fuelwood, timber, and pharmaceutical products. These goods represent important and familiar parts of the economy. What has been less appreciated until recently is that natural ecosystems also perform fundamental life-support services without which human civilizations would cease to thrive. These include the purification of air and water, detoxification and decomposition of wastes, regulation of climate, regeneration of soil fertility, and production and maintenance of biodiversity, from which key ingredients of our agricultural, pharmaceutical, and industrial enterprises are derived… Such processes are worth many trillions of dollars annually. Yet because most of these benefits are not traded in economic markets, they carry no price tags that could alert society to changes in their supply or deterioration of underlying ecological systems that generate them. Because threats to these systems are increasing, there is a critical need for identification and monitoring of ecosystem services both locally and globally, and for the incorporation of their value into decision-making processes.
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