Green economic recovery worth $10 trillion

Global governments and business have the stark choice between reaping the benefits of a green recovery or facing the impact that climate change and biodiversity disasters will deliver.

President of the United Nation’s General Assembly, Volkan Bozkir, (pic) said the benefits from a green recovery for the COVID-19 impacted economic downturn were significant. He warned that humanity’s existence on Earth depends entirely on its ability to protect the natural world around it.  Yet every year, 13 million hectares of forest are lost, while 1 million species are at risk of extinction.  Meanwhile, species of vertebrates have declined by 68 per cent in the past 50 years.

He was speaking as he chaired the first ever UN Summit held on biodiversity to build political momentum towards the post-2020 global biodiversity framework, to be adopted at COP15 in Kunming, China next year.

“The degradation of local and regional ecosystems, unsustainable agricultural practices, and the exploitation of natural resources, are putting critical pressure on world ecosystems,” said Mr Bozkir. “Clearly, we must heed the lessons we have learned and respect the world in which we live.”

He added, “A green recovery, with an emphasis on protecting biodiversity, can address these concerns, mitigate risks, and build a more sustainable, resilient world. Doing so can help unlock an estimated $10 trillion in business opportunities, create 395 million jobs by 2030 and encourage a greener economy.”

UN Secretary-General António Guterres said biodiversity and ecosystems are essential for human progress and prosperity. “By living in harmony with nature, we can avert the worst impacts of climate change and recharge biodiversity for the benefit of people and the planet.”

“Let me be clear,” he added. “Degradation of nature is not purely an environmental issue. It spans economics, health, social justice and human rights. Neglecting our precious resources can exacerbate geopolitical tensions and conflicts. Yet, too often environmental health is overlooked or downplayed by other government sectors. This Summit is our opportunity to show the world that there is another way. We have to change course and transform our relationship with the natural world.”

The Summit came days after the Leader’s Pledge last week, which saw 74 countries commit to preserving biodiversity, sending “a united signal to step up global ambition for biodiversity and to commit to matching our collective ambition for nature, climate and people with the scale of the crisis at hand.”