For more than 25 years, ecologists have been desperately trying to prove the economic worth of the world’s ecosystems, hoping that a markets-based approach would slow the destruction of the natural world. Forests, the world’s largest terrestrial ecosystem, have played a central role in that. People have long valued them for their lumber and the animals they harbor. Now, scientists are asking the world to value them for more than that.
The approach has had mixed results. Forests have been protected or restored to varying degrees to prevent flooding, capture and store carbon, halt the spread of deserts, and preserve biodiversity. And yet, every year, people continue to cut down an area the size of Kentucky.
Recently, though, a fresh crop of startups have emerged to combat the trend. Their founders have been driven by everything from first-hand experience with record-breaking wildfires to a desire to see their favorite ecosystems live past the end of the century. Along with them, a handful of investors have embraced the challenge.
The market has significant potential. Globally, forests are worth as much as $150 trillion, according to the Boston Consulting Group. Still, for companies working in the sector, finding profitable ways to conserve forests remains an uphill struggle.