Saturday, Apr 20 2024 | Time 04:03 Hrs(IST)
image
Business EconomyPosted at: Jan 19 2020 5:55PM


More than half of world GDP dependent on nature

New Delhi, Jan 19 (UNI) An approximately $44 trillion of economic value generation, or over half the world’s total Gross Domestic Product, is moderately or highly dependent on nature, reveals a new report, adding that construction, agriculture, and food and beverages are the largest highly nature-dependent industries.
The report says that businesses are more dependent on nature than previously thought, and point out that China, the EU and the US have the highest absolute economic value in nature-dependent industries.

An analysis of 163 industry sectors and their supply chains found that over half of the world’s GDP is moderately or highly dependent on nature and its services, and, as a result, exposed to risks from nature loss.
Industries highly dependent on nature generate 15 per cent of global GDP ($13 trillion), while moderately dependent industries generate 37 per cent ($31 trillion).

Construction ($4 trillion), agriculture ($2.5 trillion) and food and beverages ($1.4 trillion) are the three largest industries that depend most on nature. Combined, their value is roughly twice the size of the German economy. Such industries rely on either the direct extraction of resources from forests and oceans or the provision of ecosystem services such as healthy soils, clean water, pollination and a stable climate.

As nature loses its capacity to provide such services, these industries could be significantly disrupted, says the New Nature Economy Report.
The World Economic Forum report released ahead of its 50th annual meeting in Davos, Switzerland,
on Sunday found that many industries have significant “hidden dependencies” on nature in their supply chain and may be more at risk of disruption than expected.
It calls on business and economic actors can respond with urgency to protect and restore nature and start regularly identifying, assessing, mitigating and disclosing nature-related risks to avoid potentially severe consequences, pointing out that about 25 per cent of the world's assessed plant and animal species are threatened by human actions, with a million species facing extinction, many within decades.
“We need to reset the relationship between humans and nature,” said Dominic Waughray, WEF managing director. “Damage to nature from economic activity can no longer be considered an ‘externality’. This report shows how exposure to nature loss is both material to all business sectors and is an urgent and non-linear risk to our collective future economic security.”
UNI SRJ
Please log in to get detailed story.
Tags: #More than half of world GDP dependent on nature
More News

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

19 Apr 2024 | 5:34 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

see more..

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
Rupee up 8 paise against USD

Rupee up 8 paise against USD

19 Apr 2024 | 5:05 PM

Mumbai, April 19 (UNI) The Rupee on Friday ended positive at 83.47, rising 8 paise against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image