A study conducted by Deloitte Insights has revealed that the cost of nature’s loss is significantly higher than previously estimated. This issue requires immediate attention and action from policymakers and business leaders worldwide to ensure a sustainable and inclusive economic future.
The True Cost of Nature’s Loss
According to the study, the estimated annual global economic value of the world’s natural capital is between $125 trillion and $140 trillion. However, the annual global GDP loss due to nature’s decline is estimated to be between $5 trillion and $10 trillion. This represents a significant economic risk that cannot be ignored.
The Need for Urgent Action
The loss of biodiversity and ecosystem services poses grave threats to human well-being, economic prosperity, and the stability of the global financial system. Policymakers and business leaders must take immediate action to address this crisis and implement sustainable practices that protect the environment while promoting economic growth.
Towards a Sustainable Future
The study highlights the importance of integrating natural capital into decision-making processes and aligning investments with the transition to a green economy. This will require collaboration between governments, businesses, and civil society to develop innovative solutions and policies that incentivize sustainable practices and protect the environment.