Do we really realize the worth of air and water, and similar other ecological goods and services we are receiving free of cost from the nature and paying nothing in lieu of these as money? In this article, Dr Arvind Bijalwan helps us understand a tool called gross environmental product (GEP) that reveals the value of ecosystem functionaries and services in financial terms and considered pertinent to measure the value of indirect ecological benefits of any ecosystem for sustainable and judicial development in the era of climate change.
We spend a good amount of money when we go to restaurants, malls, or parties to increase our happiness index in general. But, when we go to the nearby mountains, forests, farms, and rivers we also gain significant amount of happiness but do not pay a single penny for it. ‘Forest bathing’ elevates the soul but we do not need to pay anything for it. Similarly, the soil being conserved by plants in a forest ecosystem, which ultimately leads to the recharge of water resources, is a great service bynature but we are paying nothing for it in monetary terms. The temperature is being regulated and air purification is done by plants in an ecosystem but no money is being paid for these services. Even, the services extended by insects for pollination in plants are extremely important but no money is being paid for such an important service. There are innumerable such services which are extremely important, being provided by the ecosystem free of cost.
This story is from the December 2021 edition of TerraGreen.
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This story is from the December 2021 edition of TerraGreen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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