{"id":8076,"date":"2021-07-08T11:00:42","date_gmt":"2021-07-08T09:00:42","guid":{"rendered":"https:\/\/resoilfoundation.org\/?p=8076"},"modified":"2021-07-07T18:40:03","modified_gmt":"2021-07-07T16:40:03","slug":"climate-biodiversity-economy-in-crisis","status":"publish","type":"post","link":"https:\/\/resoilfoundation.org\/en\/economics-and-finance\/climate-biodiversity-economy-in-crisis\/","title":{"rendered":"Twin crises climate & biodiversity loss may cost tens of billions a year"},"content":{"rendered":"

Given the failure to prevent climate risk, the world economy could suffer damages up to 20% of GDP by the end of the century. While the reduction of biodiversity impacts on the economic system<\/h2>\n

by Matteo Cavallito<\/p>\n

 <\/p>\n

The future of the economy depends on ecological transition. But be careful: in order to guarantee a future for the economy, we need to act now. And numbers are actually significant. “Acting early offers clear net benefits<\/strong> – also from a financial stability perspective,” said Christine Lagarde<\/strong>, president of the European Central Bank and the European Systemic Risk Board while mentioning the latest joint report<\/a> by the two institutions. According to this investigation, “Failing to address climate-related risks could see a 20 per cent drop in global GDP<\/strong> by the end of the century”.<\/p>\n

No doubt, therefore, on the need not to accelerate the initiatives on sustainable agriculture<\/a> and soil protection. “Whatever the short-term costs of orderly transition may be”, Lagarde added, “they will pale in comparison to the costs of unfettered climate change in the medium to long term”.<\/p>\n

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EU CAP failed to tackle climate and wasted \u20ac100 bn in 7 years, Court of Auditors says<\/a><\/p><\/blockquote>\n