Economists estimate the economic fall out from the COVID-19 virus pandemic could approach $10 trillion dollars, or around one eighth of global GDP. A letter to the World Health Organisation this week, signed by almost 250 organisations, points to a solution. A massive crackdown on wildlife trade markets worldwide. It is time to call out this health crisis for what it is - a by-product of the US$ billion trade in environmental crime.
When seeking the origins of this COVID-19 crisis, we need to look less into human health, but into the collective blindness among regulators and within the financial sector of the huge dependencies the global economy has on biodiversity, and the devastating impacts on us all when our effect on these dependencies, becomes increasingly unsustainable. COVID-19 is nature’s $10 trillion dollar bite back, and this is just the beginning
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Economists estimate the economic fall out from the COVID-19 virus pandemic could approach $10 trillion dollars, or around one eighth of global GDP. A letter to the World Health Organisation this week, signed by almost 250 organisations, points to a solution. A massive crackdown on wildlife trade markets worldwide. It is time to call out this health crisis for what it is - a by-product of the US$ billion trade in environmental crime.
When seeking the origins of this COVID-19 crisis, we need to look less into human health, but into the collective blindness among regulators and within the financial sector of the huge dependencies the global economy has on biodiversity, and the devastating impacts on us all when our effect on these dependencies, becomes increasingly unsustainable. COVID-19 is nature’s $10 trillion dollar bite back, and this is just the beginning
Hosted on Acast. See acast.com/privacy for more information.
Over the last 50 years, catastrophic weather-related events have dramatically increased in frequency. Just to put it into perspective, in 2018, there were 42 catastrophic events that cost more than a billion dollars each. Why? The concern is that as the planet warms, the sea surface temperature rises. And even the smallest increase in sea surface temperature has the potential to significantly increase the strength of a hurricane. Just last year in Britain, storm Ciara and Dennis were estimated to cost around £350M in damage. This comes at a huge cost to insurance companies. A cost which ultimately gets passed on to us through increased insurance premiums.
But the question is, how are the insurance companies spending your money and mine on the premiums they collect? Are they in fact contributing to the problem? And that affects all our premiums. It's all tied to nature. That's why the one thing we all need to learn is that looking after nature is the best insurance policy you could ever have.
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