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India First to Track Multi-Trillion Dollar Value of Natural World

Hope that other nations will follow suit and also start accounting for "natural wealth," protect it from damage

by Juliette Jowit, Guardian

Oct 20, 2010

"TEEB has brought to the attention of the globe that nature's goods and services are equally if not far more central to the wealth of nations including the poor – a fact that will be increasingly the case on a planet of finite resources with a population set to rise to 9 billion people by 2050," said Achim Steiner, UN under-secretary general and executive director of the UN Environment Programme.

TEEB by the numbers

US$50bn - The annual loss of opportunity due to the current over-exploitation of global fisheries. Competition between highly subsidised industrial fishing fleets coupled with poor regulation and weak enforcement of existing rules has led to over-exploitation of most commercially valuable fish stocks, reducing the income from global marine fisheries by US$50bn annually, compared with a more sustainable fishing scenario (World Bank and FAO 2009).

€153bn - Insect pollinators are nature's multibillion-dollar providers. For 2005 the total economic value of insect pollination was estimated at €153bn. This represents 9.5% of world agricultural output for human food in 2005 (Gallai et al 2009)

US$30bn - 172bn The annual value of human welfare benefits provided by coral reefs. Although just covering 1.2% of the world's continent shelves, coral reefs are home to an estimated 1-3 million species including more than a quarter of all marine fish species (Allsopp et al 2009). Thirty million people in coastal and island communities are totally reliant on reef-based resources as their primary means of food production, income and livelihood (Gomez et al 1994, Wilkinson 2004). Estimates of the value of human welfare benefits provided by coral reefs range from US$30bn (Cesar et al 2003) to US$172bn annually (Martinez et al 2007)

US$ 20-67m (over four years)The benefits of tree planting in the city of Canberra. Local authorities in Canberra, Australia, have planted 400,000 trees to regulate microclimate, reduce pollution and thereby improve urban air quality, reduce energy costs for air conditioning as well as store and sequester carbon. These benefits are expected to amount to US$20-67m over the period 2008-2012, in terms of the value generated or savings realised for the City (Brack 2002).

US$6.5bn – The amount saved by New York, by investing in payments to maintain natural water purification services in the Catskills watershed (US$1-1.5bn) rather than opt for the man-made solution of a filtration plant (US$6-8bn plus US$ 300-500m a year operating costs). (Perrot-Maitre and Davis 2001).

50 - The number of (rupees) millionaires in Hiware Bazaar, India as the result of regenerating 70 hectares of degraded forests. This led to the number of active wells in the surrounding area doubling, grass production increasing and income from agriculture increasing due to the enhancement of local ecosystem services (Teeb case mainly based on Neha Sakhuja).

(Photo: Goldom)

(Republished with permission)

Have you seen this article?

Have you seen this article?

Great! Although I must admit

Great! Although I must admit that I am skeptical any real development/ policy changes will come from this.


 


Thanks for the post!

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