Assessing the economics of biodiversity in Finland : National implications of the Dasgupta Review

Abstract

“The Dasgupta Review on the Economics of Biodiversity” focuses on economic drivers of biodiversity loss and on potential economic solutions to mitigate the loss. The key message of the Review is that our demand for goods and services exceeds nature’s capacity to supply them in the long term, as nature’s worth to society is not reflected in market prices.

This report provides examples of the dependencies of the Finnish economy on natural assets and biodiversity, and links via which the Finnish economy impacts on local and global biodiversity. The options for change (OC) defined by Dasgupta are assessed from the national perspective: 1) Nature’s supply: Conservation and restoration of ecosystems; 2) Our demand: Changing consumption and production patterns; 3) Trade and supply chains; 4) Pricing environmental damage; 5) Future population; 6) Changing our measures of economic progress; 7) Global public goods; 8) The Global financial system; 9) Empowered citizenship; and 10) Education and biodiversity.

The key policy implication is that all options for change are applicable in Finland and there are numerous policy alternatives to target biodiversity loss. National actions are needed while at the same time actively participating in international co-operation. All actors in society need to undertake actions. It is important to enhance policy measures, even with imperfect information.