Glossary (Based on the TEEB Synthesis Report, 2010)
BIODIVERSITY: the variability among living organisms, including terrestrial, marine and other aquatic ecosystems. Bio- diversity includes diversity within species, between species and between ecosystems.
ECOSYSTEM SERVICES: the direct and indirect contributions of ecosystems to human well-being. The ‘ecosystem goods and services’ concept is synonymous with ecosystem services.
GOVERNANCE OF ECOSYSTEMS: the process of regulating human behaviour in accordance with shared ecosystem objectives. The term includes both govern- mental and non-governmental mechanisms.
HUMAN WELL-BEING: a concept prominently used in the Millennium Eco- system Assessment – it describes elements
largely agreed to constitute ‘a good life’, including basic material goods, freedom and choice, health and bodily well-being, good social relations, security, peace of mind and spiritual experience.
INCENTIVES (DISINCENTIVES), ECONOMIC: a material reward (or punishment) in return for acting in a par- ticular way which is beneficial (or harmful) to a set goal.
INTRINSIC VALUE: the value of someone or something in and for itself, irrespective of its utility for someone else.
NATURAL CAPITAL: an economic metaphor for the limited stocks of physical and biological resources found on earth and of the limited capacity of ecosystems to provide ecosystem services.
RESILIENCE (OF ECOSYSTEMS): their ability to function and provide critical ecosystem services under changing condi- tions.
TOTAL ECONOMIC VALUE (TEV): a framework for considering various constituents of value, including direct use value, indirect use value, option value, quasi-option value and existence value.
VALUATION, ECONOMIC: the proc- ess of estimating a value for a particular good or service in a certain context in monetary terms.
72 VITAL GRAPHICS ON PAYMENT FOR ECOSYSTEM SERVICES