Insurance Value of Ecosystems: An Introduction

The notion of insurance value of ecosystems has both conceptual and practical appeal. However, the operationalisation of the concept does not yet match the typical assumptions about the governance of ecosystems and ecosystem service provision. The articles in this special section provide the first comprehensive effort to address this challenge by offering conceptualizations and examples of metaphorical, analytical and operational applications of the concept of insurance value. Together with this introduction, the articles exemplify the varied uses of the concept of insurance value and the ways in which it is positioned in relation to governance. This introduction highlights that when designing governance solutions for the provision of insurance value from ecosystems, the state of the ecosystem and the activities through which its insurance value generation will be targeted should be clear. The introduction also highlights the importance of considering the assumptions and framings regarding how insurance value is generated in the ecosystems, through preservation, sustainable use or restoration, or through a combination of these strategies. Because of the distinct analytical and governance implications of these strategies, future research should specifically address the institutional conditions for applying any one of them.