Incentive Measures an Exploration of Tools and Methodologies for Valuation of Biodiversity and Biodiversity Resources and Functions

In paragraph 12 of this decision, the Conference of the Parties requested the Executive Secretary to “explore, in cooperation with the Millennium Ecosystem Assessment, the Organisation for Economic Co-operation and Development and relevant international organizations, existing methodologies for valuation of biodiversity and biodiversity resources and functions, as well as other tools for prioritization in decision-making, by preparing a compilation of existing valuation tools that provides an overview of the discussion on their methodological status, if appropriate, as well as an assessment of their applicability in terms of effectiveness and capacity preconditions, and to prepare proposals for the application of such tools. These proposals should include the identification of options to strengthen international collaborative partnerships for assessing biodiversity values, especially for the refinement and advancement of valuation tools, and shall be submitted to the Subsidiary Body on Scientific, Technical and Technological Advice for its consideration at a meeting prior to the eighth meeting of the Conference of the Parties.”