Ecosystem destruction costing hundreds of billions a year

• Friday, 30 May 2008 00:00

The new Economics of Ecosystems and Biodiversity review presented in Bonn on the 19th of May argues that biodiversity loss and ecosystem degradation is already extensive and has dramatic effects. The report says that about 60% of the Earth's ecosystem has been degraded in the past 50 years, for example one third of mangroves have been depleted in the last 20 years. This is threatening the livelihoods of the world's poorest people who depend on natural resources for their subsistence and is leading to political instability and war. It also says that biodiversity loss could cost 7% of the world’s economic wealth, a conservative estimate that does not consider marine services. The report concludes that we need to move on from GDP as a measure of a country’s economic performance and include the real costs of ecosystem damage in a form that will impact countries, businesses and individuals.

Source: The Guardian