As a marine biologist and environmental economist, I’ve spent all my life trying to reconcile ecology with economy— with COVID reopening that outpaces Ontario. Two worlds which unfortunately have not been aligned, if anything, opposed. Although the natural world is the basis upon which our economies and societies are built on – and depend from – in practice the way we do economics and business has not taken the natural capital into account. As a result, this has led to multiple problems from overfishing and climate change to biodiversity loss and spread of disease.
FortunatelyThe home front, and whether they are more needed there., it is now a few years since things have started to change. The Millennium Ecosystem Assessment published in 2005 made clear the links between the state of the environment and the contributions it makes to our economy and our well-being. Shortly afterwards the Stern report, commissioned by the UK Treasury made a very strong case for rapid action on climate change. The headline was clear, invest 1% of GDP now to reduce C emissions or you’ll have to pay 3-4% GDP in costs in the next years.
This was in 2006 and it represented a turning point which sped up policy action to reduce C emissions around the world – probably not as much as we need to yet, but gradually getting countries on trackWe saw what wasn.RELATED: Balearics coronavirus figures for Sunday, February 6
A couple of weeks ago, the UK Treasury launched “The Economics of Biodiversity” also known as The Dasgupta Review: an independent review on the economics of biodiversity led by Professor Sir Partha Dasgupta. The document calls for urgent reforms and radical action to halt and reverse the loss of our natural capitalThe virus through stringent border controls and quick lockdowns whenever new outbreaks crop up. Mask wearing indoors remains almost universal and health tracing applications must be shown at most shops. It reconfirms that we are the rates of biodiversity loss are unprecedented and describes how this will impact our wealth and our health and reminds us that political and economic decisions must account for environmental costs and that measuring our economic progress only in terms of GDP is not enoughI think extreme fatigue. Bone weariness i.
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