MEDIA STATEMENT
New World Bank Report: Protecting Nature Could Prevent Nearly $3 Trillion in Losses—With Low-Income Countries Benefiting Most
WASHINGTON, DC (1 July 2021)—A World Bank report released today argues that policies safeguarding nature deliver a long list of valuable benefits, including pollination, food provision and timber from native forests, that deliver a win-win for biodiversity and economies. The Economic Case for Nature finds that if the world fails to protect nature, we could lose $2.7 trillion in global GDP annually, with countries in Sub-Saharan Africa and South Asia particularly hard hit.
Building off recent reports laying out the economic benefits of protecting nature and following a major proclamation by G7 nations that protecting nature is an urgent priority, the report uses a first-of-its-kind analysis to reveal the extent to which valuing and protecting nature is a key development issue.
It makes the case that nature-smart policies that preserve ecosystem service benefits would increase global GDP by $50-150 billion compared to business as usual and reduce the risk of ecosystem collapse and an associated potential reduction in GDP of 2.3%. Other reports have highlighted additional benefits of protecting nature, including the expansion of nature-based tourism, which is an important source of economic growth in many developing countries.
The report notes that ambitious targets, like the global effort to protect 30% of land and ocean by 2030, are achievable and play a crucial role in unlocking these benefits.
In response to the report release, the Campaign for Nature issued the following responses:
Brian O’Donnell, the director of the Campaign for Nature, said:
“The World Bank’s report on the Economic Case for Nature shines yet another light on the feasibility of 30x30 and the win-win scenario it presents for nature and for the world’s economic prosperity.
We can’t afford to continue any longer with business as usual if we want to preserve our life support system and create a fair, equitable and economically viable future. We must all come together to work toward the ambitious but achievable goal of protecting at least 30% of the planet and ensure that all nations have the financial resources to make this possible and sustainable for our collective future and that of nature.”
Enric Sala, Explorer in Residence, National Geographic Society, said:
“The World Bank’s report on the Economic Case for Nature reinforces the findings we’ve seen in previous economic reports: we cannot expect a prosperous economy without a healthy natural world. Protecting nature through smart policies like 30x30 makes sense for nature, people and the global economy. In fact, we can’t afford not to do it.”
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The Campaign for Nature works with scientists, Indigenous Peoples, and a growing coalition of over 100 conservation organizations around the world who are calling on policymakers to commit to clear and ambitious targets to be agreed upon at the 15th Conference of the Parties to the Convention on Biological Diversity in Kunming, China in 2021 to protect at least 30% of the planet by 2030 and working with Indigenous leaders to ensure full respect for Indigenous rights.
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