Nature loss 'dwarfs bank crisis' By Richard Black Environment correspondent, BBC News website, Barcelona Losses are great, and continuous, says the report The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study. The figure comes from adding the value of the various services that forests perform, such as providing clean water and absorbing carbon dioxide. The study, headed by a Deutsche Bank economist, parallels the Stern Review into the economics of climate change.
The aim of the project was to promote a better understanding of the value of biodiversity for human health and socio-economic well-being and to provide policy-makers with the requisite tools to ensure a more stable future for human societies.
This project was directed by senior Deutsche Bank economist Pavan Sukhdev for the financial valuation of terrestrial and aquatic ecosystem services. Following the release of a series of interim reports, the final TEEB report was released in October This project serves to establish and justify the values assigned to ecosystem services such as clean water, natural flood barriers and diverse plant sources for obtaining life-saving pharmaceuticals and medical treatments.
The TEEB report represents a compilation of credible, peer-reviewed evidence of the financial benefits of terrestrial and aquatic environmental conservation for presentation to the public and policymakers, including government ministries concerned with finance, energy security and employment, in an effort to illustrate the staggering hidden cost to citizens around the world of permitting the continuing loss of valuable ecosystems, many of which must out of necessity be artificially replaced to ensure our health, coastal land and building protection, purified water availability, food security, physical safety and provision of raw materials on which we base our jobs and economies.
The report revealed that the cost of our global adverse impact on biodiversity is estimated to reach as much as 7. The report also cited examples of the methods by which we can mitigate these losses, manage natural ecosystems, preserve biodiversity and support economic activities.
Cost savings from this investment have since been redirected to other public necessities. Benefits were calculated using a benefit transfer approach. This is one of many examples in the report that demonstrates the association between ecosystem conservation and income.
The report also explains the causal connections between ecosystem protection and sustainable economic development as well as ecosystem degradation and the persistence of rural poverty that plagues so many developed as well as developing nations around the world.
By recognising natural ecosystem goods and services as capital, assigning economically justifiable values to these goods and services in relation to the benefits they provide, integrating these values into all levels of public sector as well as private sector decision-making, and responding efficiently with the aims of conserving natural ecosystems and sustainably using the ecosystem services and goods produced, we have the ability to avert the potential degradation or loss of remaining natural ecosystems.
Whether human societies are capable of learning from this knowledge is far from certain and remains to be seen.Highlights from GM’s Latest Sustainability Report General Motors’ sustainability approach enables the company to serve its customers and shareholders, increase operational efficiency, mitigate risk.
TEEB for Business makes the case for integrating the economics of biodiversity and ecosystems into the decision-making process of business. That’s a tall order, considering that this TEEB report is intended for all business sectors – from mining to information technology.
Business. Health. Science & Environment. Technology. Entertainment. Also in the news Losses are great, and continuous, says the report.
The aim is to complete the Teeb review by the middle of , the date by which governments are committed under the Convention of Biological Diversity to have begun slowing the rate of biodiversity. Janesville Buick and GMC customers can schedule a service appointment or request parts today.
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$14, $ Above Market GMC Terrain SLE-1, AWD, Sunroof, Heated Seats. Find your next car by browsing our extensive new and pre-owned GMC Terrain listings. TEEB for Business Coalition study shows multi trillion dollar natural capital risk underlying urgency of green economy transition.
The report, “Natural Capital at Risk – The Top Externalities of Business”, estimates the global top environmental externalities are costing the economy world-wide around $ trillion a year in.