Madhu Verma


Madhu Verma

Faculty Area: Environment & Developmental Economics


Telephone Extension Number: 334



Short Bio

Name: Madhu Verma
Designation: Professor
Date of Join: 03/06/1994
Faculty area: Environment and Developmental Economics
Nature of appointment: Regular

PGraduate in Biological Sciences, Post Graduate, M.Phil and Ph.D in Economics from Bhopal University, Bhopal, Post Doctoral Research work at the Department of Resource Economics, UMASS(Amherst) and Department of Agriculture and Resource Economics, UCAL(Berkeley) & Institute of Sustainable Solutions (ISS), Portland State University, Portland, USA and at the Institute of Environmental Studies (IVM), Vrieje University, Amsterdam The Netherlands.

Area of Interest:
Biodiversity and Ecosystem Services : Economic Valuation, Green Accounting & Policy Analysis ; Tiger Habitat Valuation, Livelihoods Economics; Conservation & Environmental Finance – Economics of Climate Change, Carbon Finance and Developing Markets For Ecosystem Services; Ecosystem-Economy Modelling of Wetlands, Forests and Water Resources; Environmental-Fiscal Federalism.

Professional Experience:
Professional Accomplishments : World Bank EMCaB program’s EEOFC grant Awardee (2001) to do research in USA at UCAL(Berkeley) with Dr. Anthony Fisher, the pioneer of Natural Capital concept & at UMASS (Amherst) with Dr. Tom Stevens; LEAD International Fellow (India – Cohort 12); Trainer-Member, The Climate Change Project, India Chapter, Initiated by Al Gore; Recipient of Syed Zayed Prize Diploma (IInd Prize) from the Zayed Intl.

Prize for the Environment, Dubai – UAE for being a contributing author in chapter of UN’S Millennium Ecosystem Assessment Report (2004-06); The Economics of Ecosystem and Biodiversity (TEEB) International study co-authour and Core team member (2007-09);

A Fulbright Nehru Environmental Leadership Fellowship to her research in US with world renowned scientist Dr. Robert Costanza at Portland State University (2011-12) and currently Intergovernmental Panel on Biodiversity and Ecosystem services (IPBES) process Expert Group member (2013 till date).

Other Info

She has 31 years of work experience and more than 40 publications in international and national journals to her credit ;has been engaged in teaching Master’s program in Forest- Environment-Development Management, M.Phil program and many workshops, seminars, training programs for in mid-level and senior practitioners and academicians sponsored by various Ministries and Training agencies. She has conducted considerable number of projects with the support of the World Bank, United Nations Environment Programme (UNEP), European Union (EU), Department for International Development (DFID), Asian Development Bank (ADB), International Institute for Environment and Development (IIED), Winrock International (WII) & various ministries of Govt. of India viz.; Ministry of Environment & Forests (MoEF), Ministry of Statistics and Programme Implementation (MoSPI), Ministry of Health (MOH), Ministry of Defense (MOD) , National Forestry Commission and the 13th and 14th Finance Commissions of India and the national Tiger Conservation Authority (NTCA). She has also contributed in the Best Practices – Environmental Mainstreaming Project and Climate Development Knowledge Network (CDKN) with LEAD International, UK.

Many of her research findings have been internalized in the policy and decision making process of the government. Most noteworthy has been introduction of 'Compensation for the Loss of Ecological Value (CLEV) in the state of Himachal Pradesh based on her work " Economic Valuation of Himachal Pradesh Forests' in 2002 and the methodology developed by her for valuing forest land has been internalized by the Expert Committee on NPV of forest appointed by the Hon'ble Supreme Court of India in 2006.


She is also contributed to National Forestry Commission of India and suggested formula for increased budgetary allocation for the State’s managing large forest cover to the 13th & 14th Finance Commissions of India.

Her recent accomplishments which have received considerable attention on account of their policy usefulness are (i) Economic Valuation of Tiger Reserves in India: A Value + Approach for National Tiger Conservation Authority (2013-14), (ii) Regional research on the benefits and costs of meeting the Aichi Targets – Asia for the WCMC/GHK research team, the High Level Panel, CBD Secretariat and other stakeholders (2013-14); (iii) Recalculation of Net Present Value Estimation of Forest Resources for the Ministry of Forest and Environment, Govt of India (2012-13); (iv) Valuation and Accounting of Ecosystem Services from Forests of Himachal Pradesh (2011-13); (v) Capacity-building in National Planning for Food Security” Punjab state (India) (2011-13) for UNEP; (vi) State Climate Change Action Plan for Madhya Pradesh, India, for UNDP (2010-11); (vii) High Conservation Value Forests: An Instrument for Effective Forest Fiscal Federalism in India for the 14th Finance Commission of India (2013-14);(viii) Cost Benefit Analysis of Forest Diversion for the Ministry of Forest and Environment & Climate Change, Govt of India (2012-13), (ix) Estimating Economic Values and Analyzing Institutional & Legal Frameworks for claiming REDD+ and Ecotourism benefits for Protected Area-Ramsar Wetlands:

An Exploration through Loktak and Hokersar Wetlands (2010-2011) for the Ministry of Forest and Environment & Climate Change, Govt of India (2012-13),; (x) Analyzing Forest Carbon Accounts for Sustainable Policy Options with Special Reference to Livelihood Issues (2010-2012) with the funding support of The Technology, Information and Forecasting Assessment Council, India and with technical support of International Institute of Applied Systems Analysis, Laxenberg, Austria; (xi) The Shastri Indo – Canadian Institute, New Delhi collaborative study with UBC, Vancouver and GIDR, DSC, India project titled “MillennialGoal : Poverty Eradication in Rural India: Poverty Reduction and the Community Management of Natural Resources in Gujarat and Madhya Pradesh” with financial support from CIDA; (x) Natural Environment Research Council (NERC), UK sponsored project on Strengthening Capacity to Alleviate Poverty through Ecosystem Services (SCAPES) in South Asia” (2008-09) etc.


She has contributed to many international studies like The Millennium Ecosystem Assessment (MA), The Economics of Ecosystems and Biodiversity (TEEB) and currently is an expert Member in The Intergovernmental Panel on Biodiversity and Ecosystem services (IPBES).

She is also in the process of setting up DRISHTI- An Information System for Forest Ecosystem Services Valuation and Restoration at IIFM for the Ministry of Environment, Forests and Climate Change (MoEFCC). She is ongoing studies are (i) Ecosystem Services Valuation of Tiger Range Countries with the Global Tiger Forum and (ii) Wealth Accounting of Madhya Pradesh State for the Planning Board in collaboration with WAVES initiative of the World Bank & (iii) Economic Valuation of Forests of Jharkhand State of India and studies in pipeline include (i) Economic Valuation of Tiger Reserves in India for National Tiger Conservation Authority (2015-16) : Phase Two & (ii) Internalizing Concept of Ecosystem Services & Forest Resource Accounts in Working Plans of Madhya Pradesh Forests.