Big Losses

A shocking 2008 report as part of a larger global study entitled ‘The Economics of Ecosystems and Biodiversity (TEEB)’ estimated the annual loss in ecosystem services due to biodiversity loss will be worth 14 trillion euros by 2050 equivalent to 7% GDP if we do not act (Braat, L et al, 2008, p179). 

As a result, environment ministers from 200 countries met in 2010 in Nagoya, Japan, to establish biodiversity targets and develop a strategic plan (Watts, J. 2010)

This included the Aichi targets to at least halve the loss of natural habitats and expand nature reserves to 17% of the world's land area by 2020 and the Nagoya protocol, to manage the world's genetic resources and share the multibillion-dollar benefits with developing nations and indigenous communities (CBD, 2010a)(CBD, 2010b).

Sources:

Braat, L et al. 2008. The Cost of Policy Inaction: The case of not meeting the 2010 biodiversity target. [pdf]. European Commission. Available at:< http://www.globio.info/downloads/85/Report%20-%20Braat%20&%20ten%20Brink%20eds%20(2008)%20The%20Cost%20of%20Policy%20Ina.pdf> [Accessed 24.10.2014]

CBD. 2010a. Aichi Biodiversity Targets. Convention on Biological Diversity. [online]. Available at: http://www.cbd.int/sp/targets/ [Accessed: 24.10.2014] 

CBD. 2010b. About the Nagoya Protocol. Convention on Biological Diversity.  [online]. Available at:http://www.cbd.int/abs/about/ [Accessed: 24.10.2014]


Watts, J. 2010. Biodiversity talks: Ministers in Nagoya adopt new strategy. The Guardian. [online]. Available at: http://www.theguardian.com/environment/2010/oct/29/biodiversity-talks-ministers-nagoya-strategy [Accessed: 24.10.2014]