This paper explains that the emerging values that reside in forests arise from the estimated rates of loss of forest area and, hence, in biological diversity. It argues that the notion of 'value' has been debated in philosophical circles for hundreds of years, and choses to focus on instrumental valueswhich derives from some objective function, i.e. the goal or purpose that is being sought. As an example, economic value relates to the goal of maximising human wellbeing.
