The loss of biodiversity carries significant economic consequences. A report by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) highlights that up to $577 billion worth of annual global crops could be at risk without proper pollination services provided by diverse species.
In a localized context, the sustainable management of biodiversity can catalyze economic development while ensuring ecological resilience. Economic Benefits of Biodiversity. 1. Resource Provisioning: Supplies essential resources like food, fuel, timber, and medicines, critical for industries like agriculture, forestry, and healthcare.
There are between 5.3 million and one trillion species on Earth and while humans just make up 0.01% of the planet’s life, their activities are compromising its health and killing millions of animals and plants every year.Biodiversity loss is happening at an extremely wide scale and, if left unchecked, it can have devastating social, economic, and environmental consequences.
Biodiversity is declining worldwide, and the costs of biodiversity losses are increasingly being recognized by economists. In this article, we first review the multiple meanings of biodiversity, moving from species richness and simple abundance-weighted species counts to more complex measures that take account of taxonomic distance and functionality. We then explain the ways in which ...
Pollinators, including bees and butterflies, provide significant environmental and economic benefits to agricultural and natural ecosystems, including adding diversity and productivity to food crops. As many as one-third of the world’s food production relies directly or indirectly on insect pollination.
Sectors Affected: Agriculture, forestry, fisheries, tourism, and pharmaceuticals heavily depend on biodiversity. (Explore the economic benefits of biodiversity). Key Ecosystem Services and Their Economic Impact Pollination Services. Dependency on Pollinators: 88% of flowering plant species are dependent on animal pollinators.
The Bottom Line. The economic benefits of biodiversity, as well as the environmental benefits are clear: companies that invest in biodiversity conservation are better positioned for long-term success.By adopting frameworks like BNG and SCBF, companies can align their goals with ecological preservation, leading to enhanced reputation, improved resource efficiency and new market opportunities.
Economic benefits arise from biodiversity, leading to reduced operational costs, increased productivity, and long-term financial returns for businesses. Healthy ecosystems provide essential services like food production, carbon absorption, and soil health, crucial for sustainability and human well-being.
there are five main threats to global biodiversity, here ranked by their negative impact ( Exhibit 2).9 Biodiversity, which has broad social and economic importance, is threatened from many quarters Exhibit 2: Five main threats to biodiversity Climate change is currently the third-largest and fastest-growing threat to biodiversity. These
o Implementing all the SDGs in all sectors and systems could increase the economic benefits by 2-3 times o Of the market “hot-spots” with the most immediate economic value to businesses, those most directly related to biodiversity include ‘forest ecosystem services’, ‘dietary
Economic Benefits of Biodiversity. The diversity of species provides humans with a wide range of economic benefits: Wild plants and animals maintain a valuable pool of genetic variation. This is important because domestic species are genetically uniform. This puts them at great risk of dying out due to disease.
Nature-positive economic models in key sectors could provide almost 400 million jobs and over $10 trillion in annual business value by 2030. ... Biodiversity benefits business. There is great potential for the economy to grow and become more resilient by protecting biodiversity. Global sales of pharmaceuticals based on materials of natural ...
Biodiversity provides economic benefits to many places of the globe, including several nature reserves, parks, and woods where wildlife and flora provide beauty and delight to many people. Share. Numerous economic factors support recognising biodiversity’s benefits. Some economists debate whether biodiversity is essentially valuable ...
The economic benefits of biodiversity after ecological restoration were simulated in this study using multiple traded credit prices. The results show that using the average credit price in 2023 as a reference, the credit price of the ecological restoration project was less than 20% of the construction cost. However, under ideal pricing ...
The economic benefits offered by biodiversity and ecosystem services are immense. For instance, the annual economic value of ecosystem services provided by forest ecosystems is worth billions of US dollars (see Table). Estimated economic values are however sensitive to the methods, norms and prices used to value ecosystem services, as well as ...
