I think placing a monetary value on ecosystem services brings the benefit of providing the same unit of measure against all ecosystems, that is understood wildly on Earth. We can use it to compare value of natural resources and determine its value in the Economy. My main issue with this is how we determine the actual value and if it is fair on the ecosystem.
We are exploiting Earth from its natural resources with the human population increasing. If we continue to value natural resources as we currently are and continue to take it for granted, resources will not have enough time to replenish, and eventually we will be in deficit. Great example of this is over fishing and global warming having an effect on the Great Barrier Reef. If further actions are not taken to prevent this, reef bleaching will continue and biodiversity will vanish, which has an effect on a wide range of Ecosystems.
Issues such coral bleaching in shores of Australia, deforestation of the Amazon and land pollution effecting seas around Far East, should be a global concern. I think it’s definitely a tough decision to make. Some countries are more concerned for their Economic success rather than exploitation of natural resources, their decisions might not be good long term for the planet. Of course over the years most countries have become more aware of the climate and pollution challenges our Planet is facing. Creating organisations such as UNFCCC, and policies/ incentives such as REDD+ or the Paris Climate Agreement, is the right step to bring an equal responsibility across the globe to help the Planet heal through climate change efforts.
I think it is also understandable that some countries want to take full control of their ecosystems and natural resource management. Maybe the incentives introduced by Global organisation, are not benefiting these local communities, or they are not creating enough positive change meaning local governments will want to take further actions. I guess this is where Governments and organisations such as UN have to have further discussions and make expectation in individual cases.
With current global warming issue there should be a higher price put against natural resources such as land, forests, fuel, and fossil fuels, and lower the price of wind, solar and water power systems, which we can help grown to reduce emission.
If you look at this from a perspective of a person that truly appreciates earth and nature, and is increasingly against the system that we live in, who are we to place price on natural resources? We live amongst other none human animals that has no say in this. As we are the smartest living creatures on Earth, making policies, rules and regulations, we want to control everything that surrounds us and use it for our benefit.
To conclude this, yes monetising the value of the Ecosystem Services is very important and relevant in this day and age. Without this, services would not be values appropriately, and the Economies around the world would not be structures as they are now. I think this is something that can definitely change in future. We should invest much more in our eco-friendly energy substitutes, and reduce waste we produce through consumption control in most MEDC. I also think there should be some sort of population control law introduced across the globe as it is growing fast out of proportion. It might sound drastic, but we have to look at the bigger picture here in years to come. With continues population growth in future, there won’t be enough resources to supply us with, and keep biodiversity in the ecosystem.