The Economics of Ecosystems and Biodiversity (TEEB) is a global study that compiles and presents a case for the economic basis for conservation of ecosystems and biodiversity. The final report of the study was released in 2010 at the Tenth Conference of Parties to the Convention on Biological Diversity (CBD CoP-10) in Nagoya, Japan. The International TEEB report is largely based on secondary data and case studies. It does not provide any standard methods and/or guidelines.However, it provides a framework for considering the value of ecosystem services in policy and decision making based on recognizing, valuing and capturing the value of ecosystem services through a range of economic and non-economic instruments. This was stated by Shrimati Jayanthi Natarajan Minister of State (Independent Charge) for Environment and Forests, in a written reply to a question in the Lok Sabha today.
The Minister further stated that pursuant to the international TEEB report, the Ministry of Environment and Forests commissioned three scoping studies to cover corresponding three important ecosystems of the country namely forests, inland waters and coastal and marine. Based on the scoping reports, a working document entitled ‘The Economics of Ecosystems and Biodiversity (TEEB) – India: Initial Assessment and Scoping Report’ was prepared and showcased at the CBD CoP-11 in October 2012, Hyderabad.
In order to assess the feasibility of developing sector-wise uniform methodology for Natural Resource Accounting (NRA), the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (MOSPI) commissioned 8 studies on NRA covering sectors of land, forest, air, water and mining in 8 states to various specialised institutions during 2000-2006. Based on the reports of the 8 studies, a Synthesis Report has been prepared. Subsequently, an Expert Group on Green National Accounting for India was constituted by MOSPI under the chairmanship of Prof. Sir Partha Dasgupta, Professor Emeritus of Economics, University of Cambridge, United Kingdom to develop a framework for Green National Accounts and prepare a road map for India to implement the framework in August 2011. The Group has submitted its report to CSO on 24th March 2013. An International Workshop has been held during 5-6 April, 2013 to discuss the Report. No specific proposal on valuation is under active consideration in the Central Statistics Office.