Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli Channel 13: The Iranian nuclear program cannot be destroyed with missiles, even if we spend another year attacking it alongside the Americans.
Over 30 casualties in a suicide bombing that targeted the Mar Elias Church in Damascus, Syria.
Iranian Shura Council recommends the closure of the Hormuz Strait and leaves the decision up to the Iranian National Security Council.
IRGC Commander Major General Mohammad Pakpour: As time passes, the people's solidarity increases, which is a divine blessing
IRGC Commander Major General Mohammad Pakpour: The Iranian Revolution Guard Corps' aerospace operations will not stop
Russian Foreign Ministry: IAEA Director General Rafael Grossi must ensure that an objective report is presented at the special session of the International Atomic Energy Agency (IAEA)
Russian Foreign Ministry: The UN Security Council must respond to the US attacks on Iran
Russian Foreign Ministry: We strongly condemn the US strikes on Iran, calling the decision irresponsible
Iranian Red Crescent: Three personnel martyred, 29 injured in Israeli aggression
IRGC: We have identified and monitored the departure points of the US aircraft that carried out the aggression

Biodiversity loss threatens economic stability: Report

  • By Al Mayadeen Net
  • Source: Agencies
  • 24 Mar 2022 22:58
  • 2 Shares
3 Min Read

The report has warned that financial institutions and businesses were destroying the natural assets that they depend on.

  • x
  • Biodiversity loss threatens economic stability: Report
    Biodiversity loss threatens economic stability: Report

Central banks have underestimated the significant threat posed by biodiversity loss, a new report said Thursday, warning that financial institutions and businesses were destroying the natural assets that they depend on.

While climate change is increasingly factored into calculations of systemic economic risks, the report by central bankers, financial supervisors, and academics said the comparable threats from the biodiversity crisis had only recently begun to be appreciated.

"Biodiversity supports all life on our planet," said Ravi Menon, chairman of the Central Banks and Supervisors' Network for Greening the Financial System, in his foreword to the report.

"But we are eroding this biodiversity at a pace that is severely damaging the natural ecosystems that provide us with food, water, and clean air. This, in turn, could pose significant risks to economic, financial and social stability." 

The report, compiled with input from dozens of central banks, comes amid international negotiations in Geneva to thrash out a global deal to protect nature up to mid-century that has been compared to the Paris Agreement for climate change.

Some 200 nations are set to sign off on this biodiversity framework, which includes a proposal to protect 30% of the world's habitats, at the UN's COP15 conference later this year in China.

The new report stressed the impact the financial system can make on biodiversity, through lending, investment, and insurance choices.

Appetite for destruction

It also underscored how dependent economic and financial systems are on healthy and functioning ecosystems and the risks that arise when these natural processes are damaged. 

For example, crops yields are threatened by losses of pollinator species, which are caused by the destruction and break-up of habitats, pesticide pollution, and climate change.  

Meanwhile, deforestation can cause changes not just to the local habitat, but the hydrological cycle as well, it said, noting research suggesting human pressures could cause the Amazon rainforest to pass a tipping point that would transform it into a savannah.  

The Inter-American Development Bank has estimated that policies to prevent the Amazon from reaching this threshold -- curbing deforestation, investing in sustainable agriculture, improving fire management -- would generate approximately $339.3 billion in additional wealth. 

Researchers did, however, also warn that transition to a global economy that protects nature creates its own potential challenges. 

"It's not that these government policies are wrong," said Nick Robins, of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics, who was co-chair of the study group behind the report. 

"It's just that maybe the current investments of these businesses and financial institutions are misaligned with a healthy ecosystem."

The report said some countries had begun to take action, but it urged central banks to come up with a coordinated global response to the biodiversity crisis. 

"Inaction is also a choice" with inherent costs, said Robins, stressing that threats to nature should be integrated into the risk outlooks and calculations of central banks. 

"Biodiversity loss is a threat to financial stability," he added. 

  • Climate Ambition Ministerial
  • UN
  • Climate change
  • United Nations
  • COP26
  • Climate crisis
  • climate
  • Climate Summit
  • Paris climate agreement
  • biodiversity
STOP THE HEAT: A Climate Change Coverage

STOP THE HEAT: A Climate Change Coverage

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • Today
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Iran UN Ambassador Amir Saeid Iravani addresses a United Nations Security Council meeting, Friday, June 20, 2025. (AP)
Politics

Iran demands urgent UN Security Council session over US airstrikes

CIA Director John Ratcliffe, testifies before a hearing April 18, 2023, on Capitol Hill in Washington (AP/Manuel Balce Ceneta)
US & Canada

Trump aides pushed war on Iran with Mossad-fed intel, ignoring dissent

This photo released on Nov. 5, 2019, by the Atomic Energy Organization of Iran shows centrifuge machines in the Natanz uranium enrichment facility in central Iran. (Atomic Energy Organization of Iran via AP, File)
Politics

Iran: Minor damage to nuclear sites after US attack, no radiation

The U.S. Capitol, on June 5, 2025, in Washington. (AP)
Politics

US lawmakers condemn Trump’s strikes on Iran; MAGA base frustrated

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS