BusinessGreen

February 11, 2021
Putting off action to protect biodiversity will double the cost and result in the extinction of many more species when compared to acting now to curb global impacts, according to sobering findings published by Vivid Economics and the Natural History Museum this morning. 

The Urgency of Biodiversity Action study - which was submitted as evidence to the landmark Dasgupta Review on the Economics of Biodiversity - compares the costs and impacts of acting now to prevent the rapid decline of biodiversity loss with a scenario where stronger actions to conserve nature are deferred until 2030.

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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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Mongabay

February 3, 2021
As the planet continues its trajectory into what some have dubbed “the sixth mass extinction,” the diversity of life is on Earth is at risk. The Aichi Biodiversity Targets were established by the Convention on Biological Diversity (CBD) in an effort to protect and conserve the biodiversity that underpins global food security, health and clean water. However, according to an assessment by the United Nations, none of the 2020 Aichi targets were met.

In a recently published paper in the journal Nature Ecology and Evolution, a team of international researchers offer suggestions for how the newest version of the Aichi targets, spelled out in the post-2020 global biodiversity framework (post-2020 GBF), can be implemented effectively.

The authors blame past failures to reach the targets on an overall lack of investments, resources, knowledge, and accountability toward biodiversity conservation. The national goals adopted in each participating country did not always align with the Aichi targets, they say, and the sum of the national successes was not sufficient to reach the overall global targets.

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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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IFAD

February 2, 2021
Indigenous Peoples have suffered disproportionately from the economic impacts of COVID-19, yet they hold essential knowledge for rebuilding a more sustainable and resilient post-pandemic world, free of poverty and hunger, said Gilbert F. Houngbo, President of the UN’s International Fund for Agricultural Development (IFAD), at the opening of the Fifth global meeting of the Indigenous Peoples’ Forum today.  

“COVID-19 has devastated the lives of millions of people across the globe. But this dreadful plague also drives us to find ways to live more harmoniously with nature,” said Houngbo. “We know that the only way to achieve this is by joining forces with Indigenous Peoples - who are stewards both of nature and of a vast reservoir of traditional knowledge around the world.”

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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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China Daily

January 29, 2021
China is looking forward to seeing ambitious but balanced conservation targets that fully consider developing countries' capabilities at this year's United Nations biodiversity conference, a senior Ministry of Ecology and Environment official said.

The conference, known as COP 15, was originally scheduled to be held in Kunming, Yunnan's provincial capital, in October. Due to the COVID-19 pandemic, however, it was postponed to May.

"In light of current circumstances, there are still uncertainties over COP 15," Cui Shuhong, director-general of nature and eco-conservation at the ministry, told a news conference on Thursday.

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Our Daily Planet

January 29, 2021
In an open letter, 450 elected officials from all around the U.S. support President Biden’s Executive Order action this week to protect 30% of U.S. lands and waters by 2030. The officials hope that the president will lead a swift and aggressive campaign to combat global warming and the extinction crisis through conserving land and ocean spaces for the benefit of nature. Biden has also pledged to reverse a number of the Trump administration’s environmental rollbacks, many of which reduced protections for key public lands and infringed on Indigenous sovereignty.

Why This Matters: As this letter makes clear, parks and access to nature are important to Americans across the country – in red and blue states.  During his time in office, Trump rolled back protections for countless public lands, including areas like Bear’s Ears and Grand Staircase Monuments in Utah, the Tongass National Forest in Alaska, and the Arctic National Wildlife Refuge. The rollbacks, meant to clear the way for development, largely failed to attract buyers in Alaska, but fossil fuel companies bought up enough land in the Western U.S. at the end of the Trump administration to continue oil drilling for years.

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Treehugger

January 28, 2021
Earth’s biodiversity is in trouble. A landmark 2019 assessment from the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) found that around one million plant and animal species are now threatened with extinction, many within decades.1 At the same time, human actions have dramatically transformed 75 percent of the Earth’s surface and 66 percent of its ocean ecosystems.

To solve this problem, a group of more than 50 countries have come together under the banner of the High Ambition Coalition (HAC) for Nature and People and pledged to protect 30 percent of Earth’s land and oceans by 2030. The initiative is being referred to in the media as HAC 30x30.

“Our future depends on preventing the collapse of the natural systems that provide our food, clean water, clean air and stable climate,” Rita El Zaghloul, HAC coordinator at the Ministry of Environment and Energy of Costa Rica, told Treehugger in an email. “In order to preserve these crucial services for our sustainable economies, we must protect enough of the natural world to sustain them.”

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World Economic Forum

January 27, 2021
Climate change is having a substantial impact across the world. Rising temperatures, disrupted water supplies and flooding have already displaced tens of millions of people. Drought and extreme weather events threaten food production and supply chains. At the same time, our exploitation of nature has lead to the destruction of 32% of the world’s forests, 40% of invertebrate pollinators face extinction, and land surface productivity has shrunk by 23% due to land degradation. Without unprecedented action, global warming is set to reach 4.1-4.8°C above pre-industrial levels with 50% percent of species facing extinction by the end of the century. 

But the call for action is being heard. Net-zero commitments by companies have more than doubled in the past year, with many companies also making commitments to protect nature. For example, Amazon is investing $10 million to restore 1.6 million hectares of forest in the US; Shell is planting 5 million trees in the Netherlands; and Unilever has committed to a deforestation-free supply chain by 2023.

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Vox

January 27, 2021
Biden took the next leap in pursuing his climate agenda Wednesday, signing the latest in a spate of environment-focused executive orders. One of the most ambitious goals buried in the order he put forward is to conserve nearly a third of US land and ocean waters by 2030.

Currently, only 12 percent of the country’s land and 26 percent of its oceans are protected, according to a 2018 report by the Center for American Progress. This was achieved by slowly expanding protected areas over the past few decades — until former President Trump took office. In his first year, his administration dramatically shrank two Utah monuments, Bears Ears and Grand Staircase-Escalante — the largest removal of federal land from protection in US history, according to the New York Times. Now the Biden administration will have to quickly reverse course to meet the new goal.

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National Geographic

January 27, 2021
In an executive order issued on January 27 to address the climate crisis, President Joe Biden ordered a pause on new oil and gas leases on public lands and created a White House office of environmental justice. He also quietly committed his administration to an ambitious conservation goal—to protect 30 percent of U.S. land and coastal seas by 2030.

That target, referred to as “30 by 30” by the conservation community, is backed by scientists who argue that reaching it is critical both to fighting climate change and to protecting the estimated one million species at risk of going extinct.

The U.S. is currently conserving around 26 percent of its coastal waters but only about 12 percent of its land in a largely natural state, according to the U.S. Geological Survey.

To reach the 30 by 30 target will require conserving an additional area twice the size of Texas, more than 440 million acres, within the next 10 years. The White House has yet to specify who will oversee the initiative at the federal level and which lands and waterways might be prioritized

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CNBC

January 26, 2021
The richest of the rich are polluting the world and driving climate change, while the poorest of the poor suffer the greatest consequences, according to a new report published Monday by Oxfam International. 

The richest 1% of the global population have used two times as much carbon as the poorest 50% over the last 25 years, the nonprofit’s report says.

When fossil fuels (which are carbon-based) are burned in factories or jets, for example, carbon dioxide is produced. Carbon dioxide emissions trap heat in the earth’s atmosphere, resulting in the warming of the planet. The burning of fossil fuels and processes that generate carbon dioxide emissions are major drivers of economic productivity and wealth. 

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