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Reflections on the Dasgupta Review on the economics of biodiversity

Groom, Ben and Turk, Zachary (2021) Reflections on the Dasgupta Review on the economics of biodiversity. Environmental and Resource Economics, 79 (1). 1 - 23. ISSN 0924-6460

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Identification Number: 10.1007/s10640-021-00560-2

Abstract

The Dasgupta Review provides a rich overview of the economics of biodiversity, paints a bleak picture of the current state of biodiversity, and is a call to arms for action in anticipation of the CBD COP 15. The Review takes a global perspective aimed at the high level of international and national policy on biodiversity, while elucidating the very local nature of biodiversity threats and values. The approach is orthodox in its diagnosis via the language of externalities, natural capital, shadow pricing, asset returns, and the suite of remedial policies that follow. Yet, at its centre is an ‘unorthodox’ perspective: the economy is embedded in the environment and growth is limited. We offer reflections on this framing in light of its objectives for biodiversity. The limits to growth message will be criticised and applauded in equal measure by different economists. The central place of valuation and the aggregated concept of biodiversity will draw criticism from outside the discipline. Yet the Review provides a foundation for biodiversity economics, and its largely orthodox framing may invoke the intended step change in the mainstream approach to economic growth.

Item Type: Article
Official URL: https://www.springer.com/journal/10640
Additional Information: © 2021 The Authors
Divisions: Geography & Environment
Subjects: G Geography. Anthropology. Recreation > GF Human ecology. Anthropogeography
G Geography. Anthropology. Recreation > GE Environmental Sciences
H Social Sciences > HC Economic History and Conditions
Date Deposited: 06 May 2021 10:21
Last Modified: 20 Aug 2021 00:36
URI: http://eprints.lse.ac.uk/id/eprint/110356

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