PhysOrg

March 8, 2021
The economic benefits of conserving or restoring natural sites "outweigh" the profit potential of converting them for intensive human use, according to the largest-ever study comparing the value of protecting nature at particular locations with that of exploiting it.

A research team led by the University of Cambridge and the Royal Society for the Protection of Birds (RSPB) analysed dozens of sites—from Kenya to Fiji and China to the UK—across six continents. A previous breakthrough study in 2002 only had information for five sites.

The findings, published in the journal Nature Sustainability, come just weeks after a landmark report by Cambridge Professor Partha Dasgupta called for the value of biodiversity to be placed at the heart of global economics.

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Forbes

February 4, 2021
“We are embedded in Nature” and “nature is more than a mere economic good”, writes Prof Sir Partha Dasgupta in the new publication commissioned by the UK Treasury.

“Nature nurtures and nourishes us, so we will think of assets as durable entities that not only have use value, but may also have intrinsic worth.”

Dasgupta’s review presents the first comprehensive economic framework of its kind for biodiversity. And possibly the most prestigious one.

Back in 2019, the UK Government commissioned Dasgupta to lead an independent, global review on the economics of biodiversity. After an interim report in April 2020, the study was officially launched on Tuesday at an event hosted by the Royal Society and attended by the Prince of Wales, UK’s prime minister Boris Johnson and David Attenborough.

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Associated Press

February 2, 2021
A report commissioned by the British government is urging a radical transformation in the way that countries around the world assess the state of their economies by elevating the natural world as a key element in their economic planning.

The review of the economics of biodiversity by Professor Partha Dasgupta concludes that nature needs to become as valued as traditional gauges of economic wealth such as profits in the future.

In the 600-page review that was commissioned in 2019 by Britain’s Treasury, the University of Cambridge economist warned that current economic growth and prosperity have “come at a devastating cost to nature.” He said declines in biodiversity and the environment’s ability to provide food, clean water and air are “fueling extreme risk and uncertainty for our economies and well-being.”

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The New York Times

February 2, 2021
The global system is built on buying and selling, but often, no one pays for the most basic goods and services that sustain life — water to drink, soil to grow food, clean air to breathe, rain forests that regulate the climate.

Continuing to ignore the value of nature in our global economy threatens humanity itself, according to an independent report on biodiversity and economics, commissioned by the British government and issued Tuesday. The study, led by Partha Dasgupta, a Cambridge University economist, is the first comprehensive review of its kind.

“Even while we have enjoyed the fruits of economic growth, the demand we have made on nature’s goods and services has for some decades exceeded her ability to supply them on a sustainable basis,” Mr. Dasgupta said. “The gap has been increasing, threatening our descendants’ lives.”

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Reuters

February 2, 2021
Humans have built up their economic wealth by going hugely overdrawn with the bank of nature, which is in deep trouble and must be reassessed as a valuable and finite asset, an academic review commissioned by the British government said on Tuesday.

The Dasgupta Review on the economics of biodiversity concludes that standard monetary measures of prosperity, such as gross domestic product, have excluded vital services provided by natural systems, such as water provision and climate protection.

As a result, forests, oceans and the wildlife they sustain have become dangerously degraded to a point that seriously threatens human society, as well as plants and animals.

To rectify this, business, governments and other institutions should boost efforts to price and understand the value of what nature provides and the costs of its loss, while easing unsustainable pressure on natural resources, the report said.

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Campaign For Nature

February 2, 2021
Destined to be as critically important as the Stern Review on the Economics of Climate Change, The Economics of Biodiversity: The Dasgupta Review was commissioned by the UK Chancellor of the Exchequer, and was released on February 2. 

The Dasgupta Review marks a major inflection point in global political economic discourse that puts forward a new economic paradigm in the same way that Adam Smith did in his time. The review calls for urgent and transformative change in how we think, act and measure economic success to protect and enhance our prosperity, and the natural world. As decision makers worldwide begin to rebuild economies in the wake of Covid 19, this Review should be a guide and catalyst for fundamental change.

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Project Syndicate

October 13, 2020
From the energy industry to industrial agriculture, the private sector has long reaped large financial rewards from environmental destruction. But the costs of that destruction are growing, and businesses' responsibility – and motivation – to reverse it becoming more apparent.

The latest edition of the United Nations’ Global Biodiversity Outlook, published by the Convention on Biological Diversity, makes for bleak reading. As the report notes, biodiversity is essential to address climate change, ensure long-term food security, and prevent future pandemics. And yet the world is missing every target that has been established to protect it. If this is to change, business must step up.

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Northglen News

October 13, 2020
World Economic Forum has drawn the attention of the global business community to the critical relationship that exists between nature conservation and the state of the world economy.

In a video message released today, research findings show that it would cost the world just $140 billion a year to protect 30% of the planet from destruction. That’s less than what the world spends each year on video games and less than a third of what governments spend on subsidizing activities that destroy nature. This is also a fraction of the $10 trillion that was spent on Covid-19 packages in the first two months of the pandemic.

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Forbes

October 6, 2020
There is no future for business as usual. Our current economic system, which arguably has succeeded in creating unprecedented economic output, wealth and human welfare over the past 70 years, has led to exacerbated social inequalities and loss of nature at an extent that threatens the stability of our economies and societies – and could maybe even lead to a collapse of civilisation as we know it.

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IISD

September 3, 2020
IUCN has launched the first-ever Global Standard for Nature-based Solutions. The Standard guides users through Nature-based Solutions (NbS) applications and sets benchmarks for their progress.

Launched on 23 July 2020, the IUCN Global Standard for NbS consists of eight criteria and associated indicators that address considerations related to biodiversity, economy, and society, as well as resilient project management. IUCN has indicated that a governing body of the Standard will revise the criteria every four years.

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The Business Times

August 29, 2020
When we hear the names "Rio", "Cartagena", "Nagoya" or "Aichi" we think about cities but not about biodiversity. When we hear the word "coronavirus" all of us have many associations - but few of us would think immediately about biodiversity either. This is a missed opportunity.

Coronavirus will not be a one-off event. The number and diversity of epidemic events has been increasing over the past 30 years and the WHO reckons that over 60 per cent of infectious diseases reported globally have been "zoonotic" in nature, meaning that they were spread from animals to humans - as appears to have been the case with the current coronavirus. Not surprising, powerful global changes, such as growth in connectivity, growth of urbanisation with high-density living, increased deforestation as well as growing displacement of people and climate change, reinforce this development.

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Independent.ie

August 19, 2020
The Earth is running a high fever, not only from the Covid-19 pandemic but from climate change. This summer, Svalbard experienced its highest-ever recorded temperatures, causing the Arctic archipelago's glaciers to shrink away into growing turquoise meltwaters. And night sweats from the heavy monsoons that pummelled the foothills of the Himalayas resulted in floods and the displacement of millions.

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BBC Future

August 3, 2020
After defaulting on its substantial national debt, the Seychelles was offered an unusual deal.

Located around 1,600 kilometres (994 miles) off the coast of East Africa, the Seychelles is an ecological paradise. The archipelago of 115 lush and rocky islands sits amongst vast swathes of ocean, covering some 1.35 million square kilometres (521,000 square miles). They’re home to some of the world’s last pristine coral reefs and are teeming with endangered species, including the southern fin whale and the Indian Ocean’s only dugongs – large marine mammals also known as “sea cows”.

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Project Syndicate

July 31, 2020
Natural systems like the massive Sundarbans mangrove forest in India and Bangladesh are not just home to millions of plant and animal species that deserve protection from human encroachment. They are also crucial sources of economic output and resilience, demanding far more protection than they currently receive.

When Cyclone Amphan came barreling up the Bay of Bengal this past May, South Asia’s first named storm of the year appeared to pose a massive threat to the people who live on the coastal floodplains and to the animals and plants – including many endangered species – that rely on these sensitive ecosystems. But nature came to the region’s rescue.

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Mongabay

July 23, 2020
As COVID-19 wreaks havoc on the world’s people and the global economy, a group of international researchers is looking to the future. Their ground-breaking work underscores the immense economic benefits of expanding global protected areas to include 30% of the world’s land and oceans in order to accelerate recovery from the pandemic.

The report, authored by more than 100 economists and environmentalists for the advocacy group Campaign for Nature and published earlier this month, claims to be the first analysis ever to measure the economic benefits and costs of protecting 30% of the planet’s land and seas. The U.N. Convention on Biological Diversity included this 30% protected area goal as part of its ten-year conservation strategy which is expected to be ratified by 196 countries at an international summit in Kunming, China, next year.

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