Review seeks transformational change on how we value nature
A global review on the economics of biodiversity has found that transformative change is needed in the demands we put on nature and how we value its contribution to our lives – or we endanger the prosperity of current and future generations.
Led by Professor Sir Partha Dasgupta, the The Dasgupta Review is seen as the first comprehensive economic framework for biodiversity. It has found “deep-rooted, widespread institutional failure” had led to the demands we put on nature outstripping its supply, with evidence including the faster decline of biodiversity than at any time in human history. “Current extinction rates, for example, are around 100 to 1,000 times higher than the baseline rate, and they are increasing.”
It argued our economies were embedded within nature, not external to it, and said we need to ensure:
our demands on nature do not exceed its capacity to supply;
we change our measures of economic success to put us on a more sustainable path; and
we transform our finance and education systems to enable and sustain these changes.
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