Market value alone is selling nature short, governments told

  • 📰 STForeignDesk
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 71%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Is it the nutritional content of the fish it sustains? The economic benefit of the local livelihoods it supports? Or does the river have its own value which humans cannot measure? Such questions may

seem removed from the issues the world faces, from deepening climate change and environment loss to food and energy crises fuelled by war and a pandemic.

"This is largely because our current approach to political and economic decisions does not sufficiently account for the diversity of nature's values," she said of conclusions based on 13,000 references drawn from sources ranging from scientific papers to consultations with indigenous groups. While some argue that assigning a money value to natural resources will push governments, companies and consumers to look after them, others believe that putting a price tag on something with inestimable value will have the very opposite effect.

The IPBES report - signed off on Saturday by 139 member countries including the United States, China, India and Russia - offers a toolkit to help policymakers navigate trade-offs in domestic policy and in international negotiations such as this year's talks on a new global biodiversity pact. While past attempts to resolve nature conflicts have often failed to balance competing priorities or ignored some voices - typically the low-income or indigenous ones - there have been some notable successes.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil mixed as market weighs tight supply against recession jittersMELBOURNE : Oil prices were unsteady on Monday, with Brent trading higher on supply concerns while West Texas Intermediate (WTI) dipped, as traders balanced supply concerns against worries about a recession or China's COVID-19 curbs hitting demand.Brent crude futures were up 11 cents, or 0.1 per cent, at
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »