Reconsidering values and preferences in biodiversity economics: Insights from political theory

This paper shows how insights from normative political theory can advance debates about how biodiversity economics addresses values and preferences. It suggests that policymakers must be prepared to be morally discriminating when using existing values and preferences to guide biodiversity conservation. The Values Assessment suggests that the values and preferences of the least advantaged might need to be weighted more heavily, to ensure that conservation outcomes are just. This paper shows that we must go further than this. Rather than weighting them more heavily, policymakers must prioritise them over competing values and preferences. They must also refuse to give any weight to values and preferences that are clearly incompatible with justice. Doing so moves biodiversity conservation closer to wider projects of social and global justice.