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August 2022



IPBES Values Assessment Overview - UKNEE Webinar with IPBES Co-Chair Prof. Mike Christie

The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) ‘Values Assessment’ is arguably the most comprehensive assessment of the diverse values and valuation of nature to date. Produced over four years by 300 experts and drawing on ~13,000 evidence sources, the assessment was approved by the 140 governments of the IPBES Plenary in July 2022.

The Values Assessment provides a framework to better understand the relations between people and nature through the development of a comprehensive typology of nature’s values. The typology highlights concepts including worldviews and knowledge systems, broad values (social norms and regulations), specific (instrumental, relational and intrinsic) values, and value indicators (monetary, bio-physical and socio-cultural). The assessment also reviewed over 50 valuation methods and approaches and provides guidance for designing and implementing valuation. The assessment also explores tools for embedding the diverse values of nature into decision-making and policymaking and highlights four leverage points that can help catalyse transformation towards sustainable and just futures. In the UKNEE webinar, Mike will provide an overview of the Values Assessment and its key findings. In doing so, he will highlight how the Values Assessment extends beyond the core focus of TEEB-style assessments and will demonstrate how accounting for a wider range of nature’s values can improve decision-making.

Click here to register

About Prof. Mike Christie

Mike Christie is a Professor of Environmental and Ecological Economics at Aberystwyth University's Business School. His research specialises in the economic and social valuation of biodiversity and ecosystem services, where he has utlised a wide range of non-market valuation. 


Head of UN Biodiversity Convention Calls for TNFD Reporting to be Made Mandatory

Following discussions in June on the Post-2020 Global Biodiversity Framework held in Nairobi, Kenya, the Head of the UN Biodiversity Convention Elizabeth Maruma Mrema told Responsible Investor that mandatory TNFD reporting would be crucial for institutions to properly disclose and manage their impacts on biodiversity. On the use of the TNFD framework, Mrema said: “if it was mandatory, it would be a significant step towards the full implementation of targets 14 and 5 in the post-2020 framework.”

Targets 14 and 15 of the post-2020 framework, most relevant to the financial sector, focus on integrating the values of biodiversity into policies, regulation, planning, and development processes and the implementation of policy measures to regularly monitor and disclose impacts.

The talks in Nairobi made slow progress on the post-2020 framework and received mixed responses from investors and participants. Sticking points have focused on the roles of finance and business, or, as Eoin Murray of Federated Hermes put it: “the thorny issue of finance and who is to pay”.

However, there is still time for agreements to be reached ahead of ratification at COP15. In anticipation of TNFD reporting becoming a part of this agreement, we encourage UKNEE members to revisit the recording of Emily McKenzie’s Keynote Speech at envecon 2022 in which she outlined the beta release of the TNFD framework and to visit the Taskforce’s website, here.


Spotlight on JEEP's Open Access Articles

Subscription to the Journal of Environmental Economics and Policy (JEEP), published quarterly, is an UKNEE membership benefit (you can join here). However, JEEP also offer open access articles which anyone can read.

Recent articles include:

  • The energy mix-environmental aspects of income and economic freedom in Hong Kong: cointegration and frequency domain causality evidence, Mary Oluwatoyin & Andrew Adewale Alola

  • Willingness to pay for mangrove restoration to reduce the climate change impacts on ecotourism in Rekawa coastal wetland, Sri Lanka, Salpage Nesha Dushani, Margrethe Aanesen & Claire W. Armstrong

  • Does air pollution increase electric vehicle adoption? Evidence from U.S. Metropolitan areas, 2011-2018, Jude Bayham, Jesse Burkhardt, Makena Coffman, Sherilyn Hayashida & Summer La Croix

There are currently 19 other articles available in addition to those above. Click here to view JEEP’s open access page.

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