Loss of nature’s value makes bank crisis look ridiculous

13 10 2008

Thanks for pointing this one out, Tim (see ConsBlog.org). In the theme of demonstrating (how many different ways do we need to show this before it bloody well sinks in?) the value of ecosystem services currently being degraded by habitat loss, invasive species, over-exploitation and climate change, some people in power are starting to take notice.

All you investors, bankers, share brokers and buyers – beware! Without a large upheaval of the current economic system that promotes absolute consumption and growth in a finite and dwindling resource base, you will lose a lot more that the value of a few shares.

The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study.

It puts the annual cost of forest loss at between $2 trillion and $5 trillion… (read on)