Biodiversity and ecosystem valuation refers to a process of better-informed business decision-making by explicitly valuing both ecosystem degradation and the benefits provided by ecosystem services and biodiversity. The World Business Council for Sustainable Development (WBCSD) developed the Corporate Ecosystem Valuation (CEV) guide for companies to streamline this process.
The guide is divided into two parts. Part 1 – Screening – answers essential questions such as what techniques and information are used. It also helps companies, through the application of a set of screening questions, to decide whether or not a CEV is necessary in the first place. The second part – Methodology – explains the five-stage CEV process, which covers scoping, planning, valuation, application and embedding.
This CEV process helps businesses to incorporate ecosystem values into business decision-making, and thereby enhances sustainable development strategies and outcomes. This development can then help to increase revenue, save costs and boost the value of assets and potentially share prices.