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