Biodiversity Economics

Biodiversity economics studies the economic value of biodiversity, which includes the variety of life on Earth—plants, animals, and ecosystems. It assesses how ecosystem services, like clean air, water, and food production, contribute to human well-being and the economy. This field aims to understand the costs of losing biodiversity, such as reduced resilience to climate change or loss of resources for future generations. By quantifying biodiversity's benefits, policymakers can create strategies to protect it while balancing economic development, ensuring sustainable use of natural resources for both people and the planet.