The Economics of Ecosystems and Biodiversity (TEEB) for Local and Regional Policy Makers report shows local policy makers how to improve their understanding of the value and services provided by natural capital like woodlands, parks and waterways, and to reap benefits in local policy areas such as urban management, spatial planning and protected areas management.

The new report, entitled TEEB for Local and Regional Policy Makers, prepared by The Economics of Ecosystems and Biodiversity (TEEB) initiative hosted and supported by the United Nations Environment Programme, highlights how much cities depend on nature, and illustrates how ecosystem services can provide cost-effective solutions to municipal services.

The study shows how Rome, for example, is reaping the benefits of 5,000 ha of green public areas, and how local authorities in Wales are improving citizens' health by increased provision of green spaces.

Among the recommendations are payment schemes for ecosystem services, guidelines for rewarding good stewardship of local natural capital, certification and labelling. TEEB Initiative already pointed out in its second report recently published, how investments in biodiversity can also represent a real opportunity for the economy and provided a series of recommendations to companies to exploit this potential.

Key issues that need attention if natural capital is to work for local development

• The fair distribution of rights to nature’s benefits. Policy changes often affect service distribution or access – and this must be considered during decision making.
• Maximal use of available scientific and experience based knowledge as this will help provide a common language to capture diverse views.
• Stakeholder engagement throughout the process to prioritize and develop feasible and effective local policy action.

Over 140 experts from science, economics and policy from more than 40 countries across the globe have been involved in the research, analysis and writing of the TEEB for Local and Regional Policy Makers report, which contains case studies from many countries such as South Africa, India, Australia, Vietnam and Peru.

This is the third TEEB stakeholder report, after previous reports aimed at national policy makers and businesses, and the last before the presentation of the TEEB overall results at the Biodiversity COP 10 in Nagoya in October.