Friday, October 10, 2008

ECO CLIPS

BBC - The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study. It puts the annual cost of forest loss at between $2 trillion and $5 trillion. The figure comes from adding the value of the various services that forests perform, such as providing clean water and absorbing carbon dioxide. The study, headed by a Deutsche Bank economist, parallels the Stern Review into the economics of climate change. . . Speaking to BBC News on the fringes of the congress, study leader Pavan Sukhdev emphasised that the cost of natural decline dwarfs losses on the financial markets. "It's not only greater but it's also continuous, it's been happening every year, year after year," he told BBC News. "So whereas Wall Street by various calculations has to date lost, within the financial sector, $1-$1.5 trillion, the reality is that at today's rate we are losing natural capital at least between $2-$5 trillion every year."

Reuters
- Environmental damage such as desertification or flooding caused by climate change could force millions of peoples from their homes in the next few decades, experts said. "All indicators show we are dealing with a major emerging global problem," said Janos Bogardi, director of the U.N. University's Institute on the Environment and Human Security in Bonn, Germany. "Experts estimate that by 2050 some 200 million people will be displaced by environmental problems, a number of people roughly equal to two-thirds of the United States today," the University said in a statement. Bogardi said presently the number of environmental migrants could be between 25 million and 27 million. Unlike political refugees fleeing their country, many seek a new home in their own country.