How people value species recovery, conference agenda announced, video series on natural capital accounting

In This Month's Newsletter:

• Defra species recovery policies could improve British welfare by £ billions per year 

  • Large-scale study shows people significantly value improvements to species abundance

• envecon 2025 Agenda Announced

  • Annual applied environmental economics conference

• New video series on natural capital accounting

  • The why, what, and how of ISO 14054 on Natural Capital Accounting: with Little Blue Research

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Defra species recovery policies could improve British welfare by £ billions per year 

A golden eagle

Our recent valuation work for Defra helped address a gap in the evidence available to decision-makers on the economic value of species recovery. With our partners (UCL, Countryscape, and Watermelon), we conducted primary research to estimate the value of species recovery outcomes to households in England.

The study shows that individuals are concerned about the current state of nature in England and want to see wild species recovery targets met and that they are altruistically motivated – desiring benefits for future generations, neighbours, and nature itself.

Given the trade-offs between their own budgets and these outcomes, households are found to be willing to pay for improved biodiversity and species abundance in England as much as £5 to £7 billion per year for an illustrative scenario of 100,000 hectares improved.

The research also provides useful information for policymakers in terms of where and how those outcomes are achieved: there was a significant preference for recovery on sites that already have moderate to high levels of biodiversity, or in habitats considered to be rare.

The results are based on a large-scale stated preference survey of 5000 respondents and 15 in-depth focus groups. The groups and survey sample included participation by “future generations” (16-17 year olds) who are often not consulted in such studies. Econometric analysis was then used to estimate the economic value of species recovery for 11 different habitats.

You can read more about this project and access relevant information on our site, here.

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envecon 2025 Agenda Announced

UKNEE's annual applied environmental economics conference

envecon promotional banner

This year’s envecon will feature five sessions showcasing the latest in applied environmental economic research, focusing on:

• Energy Transition

• Climate & Nature

• Panel on SEA and Chemicals Policy

• Transport Transition

• Air & Health

Speakers include established figures in the space, such as Profs Richard Tol and Edward Barbier, as well as up-and-coming stars in the field. The conference will also feature posters, exhibition stands, and plenty of opportunities for networking with a diverse range of attendees from the private, public, and third sectors.

You can find more information on the agenda and book your tickets here.

Early bird prices are still available while stocks last and only a few student tickets remain. Online attendance is available also. Further announcements, including the keynote address, will be made in the coming weeks.

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Short Videos on Natural Capital Accounting

And the development of the International Standard: ISO 14054, with Little Blue Research

cover for one of the videos - what is the purpose of a natural capital account?

Have a question about natural capital accounting? Or want to be involved in the development of the international standard, ISO14054: Natural Capital Accounting for Organizations?

Our CEO, Ece, recently sat down with Little Blue Research founder, Dr Stephanie Hime, to share their knowledge of natural capital accounting and the development of the standard – which they are both working to develop as the leaders of the working group drafting  ISO 14054.

The whole series is available on our website here.

If video isn’t your format, you are welcome to see eftec’s natural capital accounting brochure: available here.