Economics of biodiversity
In 2018, the WWF Living Planet Report argues that the whole global economy of US$125 trillion ultimately relies on nature.
[6] Biodiversity plays an essential economic role in agriculture as the origin of all crops and domesticated livestock, contributing both to food security and to livelihoods.
[8] Estimating the economic value of biodiversity (and the costs of its continued loss) in agriculture and through the use of wild species for food is both challenging and controversial.
Agrobiodiversity provides income through food and raw materials, as well as by supporting ecosystem services that are essential for agricultural productivity, including pollination, pest control, nutrient cycling, and climate regulation.
For example, wild meat (bushmeat) is harvested by rural households in some countries to support dietary requirements and as a source of subsistence income, though the practice is controversial.
[14] The role of genetic diversity in reducing risk to commercial output from farms or forests has been said to contribute to the indirect economic value of biodiversity.
[23] Control species can suppress pest populations and reduce loss of crop yields without the negative impacts of chemical pesticides.
[24] This has economic benefits and maintaining natural pest control is important to humanity's ability to grow crops.
[33] Originally, plants for horticultural use were sourced from wild populations, but now tend to come from nurseries, botanical gardens, and private collections.
[37] Biodiversity plays a vital role in the maintenance of human health and a wide variety of products derived from plants, animals, and fungi are used in medicine.
[46] For example, the ridges on pectoral fins of humpback whales have inspired the shape of wind turbine blades.
[47] The field of biomimetics is dedicated to the emulation of models, systems, and elements from nature to solve complex human problems.
In the United States, biomimicry is estimated to account for $425 billion of the country's GDP, according to the Fermanian Business and Economic Institute.
The revenue generated through tourism is vital to many economies worldwide and accounts for 10% of the global job market.
[59] The illegal wildlife trade profits from biodiversity through the sale of products derived from non-domesticated animals, including those classed as endangered by the IUCN.
[60] Cultural demand (such as for bushmeat or use in traditional medicine) is one factor motivating the illegal wildlife trade, however, terrorist and criminal organisations engage in illicit trafficking of plants and animals to fund the purchase of weapons, fund civil conflicts, and other illegal activities.
[61] It can also impact biodiversity through biosecurity risks, including the potential to spread diseases that native populations may not be resistant to and through the introduction of alien species.
[62] According to an estimate from BCG, more than 90% of the anthropogenic drivers of biodiversity loss result from economic activities linked to agriculture, infrastructure, fashion, and energy.
[63] In addition, the IUCN estimates that 79% of threatened species are impacted by agriculture, infrastructure, and energy and mining activities.
