Does it pay to protect nature?
Does it pay to protect nature?
A new study suggests yes.
A group of economists and scientists argue that expanding conservation areas could yield at least $5 for every $1 spent, just by giving nature more room to thrive.
They say the resulting boost in agricultural and forestry yields, improved freshwater supplies, the preservation of wildlife and general help fighting climate change would increase global economic output by about $250 billion a year.
Reuters Matthew Green:
''For a long time, governments have assumed that setting aside large amounts of land or sea as protected areas would basically be a drain on the economy, that it wouldn't make an awful lot of money. The authors of this study are trying to flip that script by demonstrating, using hard numbers, that the key to a healthy economy is a healthy, natural world. Now, as it stands, about 15% of the Earth's land and about half that much of the oceans are under some form of protection. Already, the UN is pushing a plan to expand that to 30% of the earth by 2030. That's going to be on the agenda next year at a big wildlife conference in Kunming, China. The question, of course, is how many countries will be ready to step up and make that vision into a reality.’’
Skeptics warn against leaning too heavily on economic arguments to validate nature conservation.
But the report’s authors argue that even a rough estimate of nature's economic worth is better than nothing, given the scale of what is at stake.
The study estimates that the 30% conservation goal would require an annual investment of roughly $140 billion by 2030.
Currently, about $24 billion is spent globally per year on protecting natural areas.
Right now, about 15% of the Earth's land and 7% of the ocean have some degree of protection.
