Goods and services from the natural world should be factored into the global economic system, says UN biodiversity report.
The economic case for global action to stop the destruction of the natural world is even more powerful than the argument for tackling climate change, a major report for the United Nations
will declare this summer.
The Stern report on climate change
, which was prepared for the UK Treasury and published in 2007, famously claimed that the cost of limiting climate change would be around 1%-2% of annual global wealth, but the longer-term economic benefits would be 5-20 times that figure.
The UN's biodiversity report
– dubbed the Stern for Nature – is expected to say that the value of saving "natural goods and services", such as pollination, medicines, fertile soils, clean air and water, will be even higher – between 10 and 100 times the cost of saving the habitats and species which provide them.
To mark the UN's International Day for Biological Diversity tomorrow
, hundreds of British companies, charities and other organisations have backed an open letter from the Natural History Museum's director Michael Dixon warning that "the diversity of life, so crucial to our security, health, wealth and wellbeing is being eroded".
Click source to read FULL report from Juliette Jowit