G8 assesses cost of species loss
Environment
ministers from the G8 have agreed to a study of the economic costs
globally of species becoming extinct as a result of climate change.
German
minister Sigmar Gabriel said the destruction of biodiversity was “not
just an issue for birdwatchers.”The loss of plant and animal species
was an economic disaster fuelling poverty in many areas, he
said.Ministers agreed the review should be along the lines of last
year’s report by the economist Sir Nicholas Stern.Ministers from
Brazil, China, India, Mexico and South Africa are also attending the
two-day talks in the eastern German city of Potsdam.
Germany’s
environment minister said 150 species were being lost to extinction
every day.”We agreed on the need for a report on the economic cost of
biodiversity destruction, modelled on the Stern Report,” Sigmar Gabriel
said.We wanted to highlight the economic value of biodiversity and also
the dangers for our economic prosperity caused by biodiversity loss,”
Mr Gabriel added.The Stern report estimated that climate change could
cost between 5% and 20% of annual gross domestic product.
‘No new deal’
Ahead
of the talks, Mr Gabriel said the meeting was about bridging the gap
between industrialised and developing nations. “We must guard
against giving developing nations the impression that the developed
world expects them to carry our share of the burden,” he said.He said
that the meeting would not bring a new deal, but was more of a chance
to discuss the issues.They will also discuss cutting greenhouse gas
emissions and how to replace the Kyoto Protocol.”We are going to speak
about the barriers that have until now held back international climate
change negotiations and how to break them,” he said.G8 heads of state
are expected to focus on climate change at talks in Germany’s
Heiligendamm in June.World environment ministers are also due at a UN
conference on the issue in Bali in December.Last week, European Union
leaders agreed to slash carbon dioxide emissions by 20% from 1990
levels by the year 2020 at a climate change summit in Brussels.But
tackling the issues hinges on the response of heavy polluters outside
the EU – the US, China and India.