I can't believe that this is news ... and then again, it's kind of shocking. On the weekend, the BBC published the numbers about how much it really cost to ignore climate change and the health of the environment. According to an EU-commissioned study, the crashing market pales in comparison to how much we are losing by letting forest conservation fall to the wayside:
Speaking to BBC News on the fringes of the congress, study leader Pavan Sukhdev emphasised that the cost of natural decline dwarfs losses on the financial markets.
"It's not only greater but it's also continuous, it's been happening every year, year after year," he told BBC News.
"So whereas Wall Street by various calculations has to date lost, within the financial sector, $1-$1.5 trillion, the reality is that at today's rate we are losing natural capital at least between $2-$5 trillion every year." .
Yikes.
Full story here
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