The Ramsar Secretariat, in partnership with the Institute for European Environmental Policy (IEEP), the International Union for the Conservation of Nature (IUCN), Wetlands International, The Convention on Biological Diversity, (CBD), the Helmholtz Centre for Environental Research (UFZ) and the UNEP TEEB Office, have produced a report that builds on the TEEB approach to generate a better understanding of the ecosystem service values of water and wetlands, and to encourage improved decision making and business commitment for their conservation, investment and wise use. The primary objective of the report is to help identify major gaps and inconsistencies in current knowledge of the economics of water and wetlands, so as to inform agenda-setting for further work on the economics of water and wetlands.