Biodiversity is 'old oil'
climate change, pollution and biodiversity loss. According to WEF's Global Risks Report 2024, biodiversity loss and ecosystem collapse is the third-most prominent long-term risk.
According to UN Environment Programme (UNEP) data, nearly 1 in every 4 species assessed is threatened, with demand for resources expected to rise 60% by 2060 from 2020 levels.
Often, economic prosperity and nature conservation are perceived as a zero-sum game. But it can be a more nuanced relationship. Services provided by ecosystems are widespread, of both the tangible and intangible kind. This link between economic output and biodiversity is supported by a large set of evidence.
WEF establishes that nearly half of global GDP amounting to $44 tn is significantly dependent on ecosystem services. Unctad identifies nearly 17% of global exports as bio-originated products directly linked to biodiversity and ecological health. Human activities related to food production, infrastructure, energy generation and mining are sectors responsible for about 79% of the impact on threatened species. Since all economic outputs, in varying degrees, are dependent on nature, economic and financial consequences of ecosystem degradation, including supply chain disruptions, risks to physical capital and increased cost of business, are particularly concerning.
Even decline of a single species can result in significant environmental, social, cultural and economic setbacks for a country. For instance, the rapid fall in the vulture population in India caused
