Reuters
The global economy faces annual losses of $2.7 trillion by 2030 if ecological tipping points are reached and countries fail to invest more in protecting and restoring nature, the World Bank said on Thursday, calling for a greener COVID-19 recovery.
In its first “Economic Case for Nature” report, the bank looked at how many economies rely on biodiversity and how they would cope if certain services provided by nature collapsed. It found that sub-Saharan Africa and South Asia would be worst hit.
The study identified key “ecosystem services” that it said were close to tipping points, including wild pollinators and provision of food from marine fisheries and timber from native forests.