The cost and value of Biodiversity

A new study on the value of biodiversity is estimating the practical value of biodiversity and the cost of its destruction.

The first progress report on the economics of ecosystems and biodiversity was presented during the 9th UN Conference on Biological Diversity (COP9) in Bonn, Germany on 29 May 2008. This study was commissioned by the EU commission and the German Environmental Ministry (BMU). The study leader is Dr. Pavan Sukhdev, Head of the London”Global Market Centre” of the Deutsche Bank. The scientific contributions for the first progress report were coordinated by the German Helmholtz Center for Environmental Research (UFZ).

The cost of reduced biodiversity has been evaluated at 3.1 trillion dollars a year or 6% of overall gross national product. Dr. Heidi Wittmer, a senior researcher at UFZ who helped compile the report, spoke of her hopes for the project:

“The Stern Review changed the way we look at the economic consequences of climate change. It is our hope that the TEEB Report will do the same for biodiversity. It is becoming clear that stopping the extinction of species is not merely a romantic notion, but is actually crucial for human survival.”

To be followed for sure.

More info can be found here, here or here.

European GHG inventory 1990-2005

The European Environment Agency has recently published the annual submission of the greenhouse gas inventory of the European Community to the United Nations Framework Convention on Climate Change. It presents greenhouse gas emissions between 1990 and 2005 by individual Member State and by economic sector.

The report shows that between 2004 and 2005 emissions in the 15 pre-2004 Member States decreased by 35.2 million tonnes or 0.8 % and total EU-27 emissions decreased by 0.7 %. EU-15 emissions in 2005 were 2 % below base year levels under the Kyoto Protocol and EU-27 emission were 7.9 % below 1990 levels.

To read the report go to: http://reports.eea.europa.eu/technical_report_2007_7