Credit Crisis – Biodiversity Crisis
Friday, October 10th, 2008
The world is struggling with economics but neglecting the fact that it is also paying a terrific cost for the loss of flora and fauna. This week the International Union for the Conservation of Nature held the World Conservation Congress in Barcelona. So why has the IUCN the right to speak out…The IUCN has over 1000 government bodies and NGO organisations as members as well as over 11000 volunteer scientists in 160 countries, 8000 people attended the conference. They also produce the Threatened Species lists and have just reported an ‘Extinction Crisis’ with every 1 in 4 of recorded mammalian species threatened with extinction and consigned to the Red List, this figure could be much higher given that they are data deficient for many species. IUCN also reported that more than half of almost 5500 species of mammals are in decline. Literally hundreds of mammalian species could be lost in our lifetime and remember this is just one small sector of the animal kingdom. Habitat loss and degradation are cited as the main problems.
Step in Teeb.
Based on the Stern Review that gave economic figures to climate change, Teeb is The Economics of Ecosystems and Biodiversity that was set up by the German government with EU funding. It is hoped Teeb could become a powerful mechanism for governments to see just how much it will cost by doing nothing to save deforestation and other biological disasters. It is set to influence policy makers with a view to funding protection of nature. Teeb believes the economics of natural habitat destruction could cost many times the current cost of the global credit crunch and would be continuous. At the basic level a cost is put on water control, flood damage, drought, nutrient loss, harvest loss, species loss, decline in fish stocks and other events with a direct human impact that require human input to balance these effects. Time will tell but it does now seem that those with an understanding of the consequences of destruction of natural resources are now able to talk to policy makers who understand figures better than concepts of global wildlife and wilderness.






