Financial Times - OpEd
September 13, 2021
It is often believed that the financial sector can survive any crisis and that investors always find a way to bounce back and make more money. It took about four years for the markets to recover from the 2008 financial crisis, and only a few months to return to pre-pandemic levels.
The biodiversity crisis will be different. The markets took a quarter of a century to recover from the Great Depression in 1929. They will probably take a similar time to rebound once the mass extinction of species is fully underway by 2030. Biodiversity loss, set to be one of the largest environmental crises of all times, will collapse economies and societies. If the financial sector wants to survive it must move now, fast and at scale.