ABSTRACT
This chapter explores the insights from past and ongoing "The Economics of Ecosystem and Biodiversity" (TEEB) activities and shows their relevance to current discussions around the Green Economy. It discusses the economic significance of biodiversity and ecosystem services. The chapter illustrates the TEEB approach with some practical examples that are classified as: conventional win-win situations; and win-win situations when considering the multiplicity of ESS, or only when taking long-term implications into account. It explains how the TEEB approach can contribute to a transition towards a Green Economy. Biodiversity is an important factor for human well-being and the global economy. Such biodiversity benefits often go unrecognized by decision-makers across society. For conventional win-win situations, it is important to create awareness of the benefits derived from nature. Regulatory policies, including incentive schemes or payments for ecosystem services, may be required and are often justified either to manage transition or to ensure the flow of benefits provided as public goods.
