Biodiversity refers to the variety of organisms, plants, animals and micro-organisms in an area or ecosystem. Ecological economics is at the interface between ecology and economics, and examines the relationships between human activities and the environment.
Biodiversity and ecological economics
Biodiversity plays a very important role in ecological economics. The diversity of living organisms and the stability of ecosystems have a direct impact on human economy and well-being.
Biodiversity contributes to ecological services, which are natural processes and resources that human society uses and enjoys. For example, pollination, soil fertility and water filtration are all ecological services that depend directly or indirectly on biodiversity.
The loss or reduction of biodiversity can have negative impacts on ecological economics. Ecological services may be reduced or eliminated as a result of extinction of organisms or damage to ecosystems. This in turn can have negative economic consequences, such as reduced agricultural yields, degraded water quality or increased impacts from natural disasters.
Biodiversity and ecological economics are closely linked. Maintaining and protecting biodiversity is essential for maintaining ecological services and economic stability. Ecological economics can help us to recognise and value the importance of biodiversity and to take effective measures for sustainable economic development.∑: ecological, biodiversity, economics, organisms, services, economic, between, stability, ecosystems