Variety and Value
Biodiversity as variation gives mankind with options/investment and insurance advantages, but this raises the question of the nature of the value of such benefits.
The principle issue is particularly relevant to species extinction, and it might be articulated as follows.
Humans have evolved into a key evolutionary force. While humans lack the expertise to govern the biosphere, we do have the capacity to drastically alter it. We have a moral obligation to act sensibly, both to our descendants and to other species. We can't forecast which species will be valuable to us. Indeed, we may discover that many species that appear insignificant are capable of producing crucial goods, such as medications, or are critical components of life-support systems on which we rely. We should not deliberately cause the extinction of a species for ethical and self-interest grounds.
The primary aim of the Conven?tion on Biological Diversity (CBD), biodiversity protection, is an urgent act of achieving intergenerational justice; an act that necessitates persistent, committed international collaboration.
It is immoral to exhaust the planet's critical resources and leave future generations with a world that severely limits their possibilities. We appreciate biodiversity (today) because we care about the well-being of future generations; consequently, we find a contemporary advantage, as well as a relationship to justice, in biodiversity's preservation of possibilities for future generations. This is viewed as a type of relational value, connecting the current generation to future generations.
Biodiversity option value therefore connects "variation" and "value," offering a basic relational value of biodiversity that reflects our level of worry about future generations' advantages.
Intergenerational justice or equity is linked to -Investment/options and Insurance
Insurance and choices are naturally intertwined;
Nevertheless, they are dependent on different sorts of uncertainty (supply vs. demand), which necessitates a distinction. The concept of biodiversity as a bearer of choice value derives from the realization that a biodiverse environment with many distinct species and genotypes can best accommodate unexpected future wants (preferences). As with insurance value, this can be combined with intergenerational equity concerns.
In reality, in the case of option value, this concept may be more central: high levels of biodiversity presently imply a wide range of alternatives for our successors.
How does bio diversity benefit humans?
Biodiversity benefits human well-being directly by providing meals, fuels, and fibres, and indirectly through improving ecosystem functioning that lead to the provision of ecosystem services.
This appears to reflect biodiversity option value by referring to meals and other items, but it misses the point that society regards biodiversity and the promise of discoveries for future generations as a current contribution to well-being. Well-being is not just realized when a new product is discovered.
Because of such a narrow view, the preservation of biodiversity's alternatives may be overlooked in assessments.
The failure to recognize the current value of biodiversity's maintenance of options has significant consequences.
The biodiversity choice value has no normative standing since it is based on an appraisal of variation as a future benefit rather than a current benefit. In support of normative standing, emphasizes on biodiversity-as-variety as a contemporary advantage, because this variation is seen as preserving alternatives for future generations. This present value is linked to normativity—we should work to maintain biodiversity and its alternatives because it is the proper thing to do and we have some connected moral commitment to future generations.