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World’s Poorest Most Depend On Biodiversity

June 7, 2008

Loss of biodiversity threatens

livelihoods of world’s poorest

By Emily Dugan

Mass extinctions of plants and animals could have a severe impact on the living standards of the poorest people on the planet and cost up to £40bn a year, the first major report into the economic impact of biodiversity loss has found.

Scientists say biodiversity is facing its greatest threat in millions of years, with three species dying out every hour. Now, the economic cost of such destruction has been assessed.

The Economics of Ecosystems and Biodiversity (Teeb) review analyses the financial impact of the loss of natural life. It is hoped that, like the Stern Review of Climate Change, which revolutionised the way countries looked at the economics of global warming, this report will galvanise government support for tackling the problem. Mankind is causing almost £40bn-worth of damage to land ecosystems each year, which is directly responsible for crises such as rocketing food prices…more

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