Tag: economy

How biodiversity relates to economic development

Image source: totallandscapecare.com


Nature has provided mankind with all the resources we need for survival. In fact, it has contributed to the dramatic progress of different civilizations around the world. However, the increasing number of population eventually led to a higher demand in goods and raw materials. As a result, it has not only devastated the planet but it also threatened whatever nature has to offer into extinction.


Several nations have acknowledged the importance of nature to sustain a society and its economy by depending on the rich biodiversity readily available to them. Unfortunately, the unrestrained consumption of these resources is starting to show its effects particularly on people below the poverty line who depend on agriculture and fishing to feed their family.


Biodiversity provides us with different products for consumption such as fish, firewood, timber, medicinal plants, and many more. Non consumptive uses include recreation, science, education, as well as natural pest control.


Image source: downtoearth.org


The Economics of Ecosystems and Biodiversity (TEEB) Report emphasized the benefits of diversity to the local and international population. Furthermore, the report highlighted the social and economic costs of biodiversity loss and the massive ecosystem degradation. The results are then compared to the costs of proper and effective conservation and sustainable use of these resources.


Perhaps the biggest challenge that we are facing today is to have the right knowledge and tools to maintain a healthy environment not only for us but also for the future generation. In addition, government of every country should come together to integrate biodiversity and corresponding ecological issues when creating policies and programs in order to promote sustainable development in a global scale.


Green tech, clean energy, and the knowledge economy sectors are working together to create new industry strategies that will not only protect the environment but can also empower revenue models. In fact, there are currently exchange-traded funds and other forms of pooled fund investments that specifically invest in green stocks. After all, progress does not always mean ecological degradation.