Losing more money in our forests than our banks?
Below, another article from a trusted news source—BBC, no less—that shows the economic potential windfull that might come from political leadership that took care of our environment. For more, click the link at bottom of the below excerpt or…check out Van Jones’s new book on Green Jobs.
…The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study.
It puts the annual cost of forest loss at between $2 trillion and $5 trillion.
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.
It has been discussed during many sessions here at the World Conservation Congress.
Some conservationists see it as a new way of persuading policymakers to fund nature protection rather than allowing the decline in ecosystems and species, highlighted in the release on Monday of the Red List of Threatened Species, to continue.
Speaking to BBC News on the fringes of the congress, study leader Pavan Sukhdev emphasised that the cost of natural decline dwarfs losses on the financial markets.
“It’s not only greater but it’s also continuous, it’s been happening every year, year after year,” he told BBC News.
“So whereas Wall Street by various calculations has to date lost, within the financial sector, $1-$1.5 trillion, the reality is that at today’s rate we are losing natural capital at least between $2-$5 trillion every year.”
The review that Mr Sukhdev leads, The Economics of Ecosystems and Biodiversity (Teeb), was initiated by Germany under its recent EU presidency, with the European Commission providing funding.
The first phase concluded in May… Here’s the rest.218 views