www.independent.co.uk 3rd October 2010
Initial results from new research by the Economics of Ecosystems and Biodiversity (Teeb) project has calculated that the economic loss of biodiversity through deforestation alone costs the global economy £2.8 ($4.5) trillion a year. This equates to roughly $650 for every person on the planet. The research is ground-breaking in that it is the first study to calculate the economic potential of the world’s environment in an attempt to encourage governments and businesses to act on conservation. A former banker Pavan Sukhdev has been hired to head the study. Other statistics include the $320 billion worth of genetic resources used by the pharmaceutical industry. The results of the report coincide with the Convention of Biological Diversity in Nagoya, Japan. Headed by the UK government and Brazil, and supported by the UN and the World Bank, biodiversity has been pushed into the diplomatic agenda. Britain and Brazil hope that the convention of the 18th October will produce a treaty that ‘would ensure that regions rich in natural resources, including South America, Asia and Africa, receive the benefits enjoyed by developed countries.’ With a quarter of the world’s original biodiversity already extinct by the beginning of the millennium, and with a further 11% expected to disappear by 2050, an agreement is vital. By explaining the extent of the problem in economic terms, the Teeb hope to encourage governments to act.Speaking for the UK, Caroline Spelman, the Environment Secretary, said: “We are losing species hand over fist. I would be negligent if I didn’t shout from the rooftops that we have a problem; the loss of species will cost us money and it will undermine our resilience in the face of scientific and medical research.”
