A conversion of nature’s value?: A critical analysis of the TEEB as an appropriate tool to valuate ecosystems and biodiversity with an empirical analysis of a Climate Change adaptation project in Falsterbo-Skanör Vellinge

Abstract: This thesis critically analyzes the appropriateness of The Economics of Ecosystems and Bio-diversity (TEEB) in terms of theoretical and practical implications and limitations. Separated into two parts, this thesis firstly examines the theoretical background and flaws of the frame-work in terms of it stated goal to enhance sustainability. In their regard, nature‟s value is de-fined as benefits to society and is assessed through forms of economic valuation. TEEB uses the intuitive and convincing language of the world‟s dominant economic-political system of capitalism to guide decision-makers and aims to mainstream economic valuation. Among the theoretical problems within the approach, commensurability and silencing of other values are the most striking. The theoretical background of TEEB is assessed critically, and I show that economic valuation could only in some terms be helpful and should be seen as a small part of a broader multi-criteria analysis. To test TEEB‟s practicability, the unique attempt to merge an economic valuation with the topic of local climate change adaptation in Falsterbo-Skanör Vellinge. For this, I dissected the TEEB down to the level of actual valuation and analyzed its practical problems. Statements from regional and local decision-makers on their view upon the impact of economic valuation round the empirical part off.