DW Made for minds has excellent programs. Like Made. Last weeks' edition looked at the concept of putting a price tag on trees or whales.
This question is a central one behind Malmanka, but more importantly behind the work on the Impact-Weighted Accounts Framework. The basic premise is that as long as we do not price the value of a living tree or a whale, we do not account for the value (and impact) of these, and therefore are not incentivized to take care of it. A couple of years ago I would have argued that it is unethical to price certain things, like the loss of dignity, in the case of forced labour. It is still tricky to put a price tag on absolutely everything, but also important to keep exploring, to compensate negatively impacted stakeholders. And to value a living oak tree, not just the log. Another way to look at the value of living things - ecosystem services - is considering the 4 Returns Framework, coined by Commonland: Return of inspiration, Social Return, Natural Return and Financial Return. Creating value across different dimensions.
As the author of the DW video on trees and whales concludes, it is tricky to rely on market mechanisms to value nature, since these mechanisms got us into this mess in the first place. Allow me to challenge this conclusion somewhat: monetary units - and the amount of these units we are willing to pay for certain goods and services - is a subjective measure of the value I ascribe to what I am purchasing. Money is the means of exchange, is a tool. It's an important tool that we collectively have enough of, just not well distributed. The attempt to assign a value to ecosystem services gets messy when we start treating money like the goal itself, not the tool. Let's not be afraid of money, but instead build a healthy relationship with it. Remember, money is the sourdough bread starter, you are the baker. Use your tool to create the pastry - the experience - you believe is most meaningful.
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