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.