Monday, May 19, 2008

Green damage bill '$3.3 trillion'

A recent estimate of the economic costs of environmental destruction:
BERLIN: The destruction of flora and fauna is costing the world E2 trillion ($3.3 trillion) a year, or 6 per cent of its overall gross national product, according to a report published by German news weekly Der Spiegel.

The European Union and German environment ministry-led research, entitled The Economics of Ecosystems and Biodiversity, will be presented today at the ninth conference of the UN Convention on Biological Diversity in Bonn.

Der Spiegel will present extracts from the paper, with the study's lead author, Pavan Sukhdev, a senior figure with Deutsche Bank in India, writing: "The world's poor bear the brunt of the cost."

Der Spiegel says German Chancellor Angela Merkel will announce a sharp increase in her country's funding to combat deforestation in line with Norway, which ploughs $US500 million ($530 million) a year into forest retention.

Deforestation - a huge factor in species loss and global carbon emissions contributing to climate change - is a central theme of this year's conference in Bonn, formerly the capital of West Germany.
Good to know. I guess. Or perhaps just depressing.

1 comment:

LARA said...

Sometimes these figures aren't just for 'fun'. A few months back in my local area, some guy decided to take a bulldozer to a protected area of forest, (why???) downing quite a few valuable trees. The damage, and his fine, amounted to somewhere around $40,000. I imagine these figures come in handy in other cases where businesses violate environmental laws.