A new World Bank report estimates that the collapse of select ecosystem services provided by nature – such as wild pollination, provision of food from marine fisheries and timber from native forests – could result in a decline in global GDP of $2.7 trillion annually by 2030.
The Economic Case for Nature underscores the strong reliance of economies on nature, particularly in low-income countries. The report highlights that Sub-Saharan Africa and South Asia would suffer the most relative contraction of real GDP due to a collapse of ecosystem services by 2030: 9.7 percent annually and 6.5 percent, respectively. This is due to a reliance on pollinated crops and, in the case of Sub-Saharan Africa on forest products, as well as a limited ability to switch to other production and consumption options that would be less affected.
Protecting Nature Could Avert Global Economy Losses of $2.7 Trillion Per Year
The Economic Case for Nature underscores the strong reliance of economies on nature, particularly in low-income countries. The report highlights that Sub-Saharan Africa and South Asia would suffer the most relative contraction of real GDP due to a collapse of ecosystem services by 2030: 9.7 percent annually and 6.5 percent, respectively. This is due to a reliance on pollinated crops and, in the case of Sub-Saharan Africa on forest products, as well as a limited ability to switch to other production and consumption options that would be less affected.
Protecting Nature Could Avert Global Economy Losses of $2.7 Trillion Per Year