Year: 2024
Type: article
Abstract: The decline of nature poses a significant threat to the global economy as it diminishes the availability of natural resources essential for economic functions. Ecosystem degradation, loss of biodiversity, and climate change all result in increased risks and costs for businesses across various industries. For instance, rising sea levels and extreme weather events disrupt supply chains, leading to higher production costs and decreased profitability. Furthermore, the depletion of natural resources such as water and forests undermine productivity and agricultural output, impacting food security and overall economic stability. As our reliance on nature for raw materials and ecosystem services grows, failing to address its decline not only jeopardizes ecological sustainability but also risks financial insolvency on a global scale. It is imperative for governments, businesses, and individuals to prioritize sustainable practices and conservation efforts to safeguard both nature’s health and the resilience of the global economy.
Source: Science Insights
DOI: 10.15354/si.24.co302
Author: Irene Secrest
Institution: University of Minnesota
Language: English
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
SDG: Life on land
Open Access status: diamond
OpenAlex ID: W4405902263