1 
 
1. BIODIVERSITY – THE NEED FOR URGENT ACTION  
From the world’s great rainforests to small parks and gardens, from the blue whale to 
microscopic fungi, biodiversity is the extraordinary variety of life on Earth. We humans 
are part of, and fully dependent on, this web of life: it gives us the food we eat, filters the 
water we drink, and supplies the air we breathe. Nature is as important for our mental and 
physical wellbeing as it is for our society’s ability to cope with global change, health 
threats and disasters. We need nature in our lives.  
Healthy and resilient societies depend on giving nature the space it needs . The recent 
COVID-19 pandemic m akes the need to protect and restore nature all the more urgent. 
The pandemic is raising awareness of the links between our own health and the health of 
ecosystems. It is demonstrating the need for sustainable supply chains and consumption 
patterns that do  not exceed planetary boundaries. This reflects the fact that the risk of 
emergence and spread of infectious disease s increases as nature is destroyed 1. Protecting 
and restoring biodiversity and well -functioning ecosystems is therefore key to  boost our 
resilience and prevent the emergence and spread of future diseases.  
Investing in nature protection and restoration will also be critical for Europe’s 
economic recovery  from the COVID -19 crisis . When restarting the economy, it is 
crucial to avoid falling back  and locking ourselves into damaging old habits. The 
European Green Deal – the EU’s growth strategy – will be the compass for our recovery, 
ensuring that the economy serves people and society and gives back to nature more than 
it takes away. The business case for biodiversity is compelling. Industry and companies 
rely on genes, species, and ecosystem services as critical inputs for production, notably 
for medicines. Over half of global GDP depends on nature and the services it provides , 
with three key econo mic sectors – construction, agriculture, and food and drink – all 
highly dependent on it2.   
Biodiversity conservation has potential direct economic benefits for many sectors of the 
economy. For example, conserving marine stocks could increase annual profi ts of the 
seafood industry by more than €49 billion, while protecting coastal wetlands could save 
the insurance industry around €50 billion annually through reducing flood damage 
losses3. The overall benefit/cost ratio of an effective global programme for the 
conservation of remaining wild nature worldwide is estimated to be at least 100 to 1 4. 
Natural capital investment , including restoration of carbon -rich habitats and climate -
friendly agriculture, is recognised to be among the five most important fiscal recovery 
policies, which offer high economic multipliers and positive climate impact 5. It will be 
important for the EU to tap into this potential to ensure prosperity, sustainability and 
resilience in the recovery.  
                                                 
1  Intergovernmental science-policy Plaform for Biodiversity and Ecosystem Services (I PBES) (2019), 
Summary for policymakers of the global assessment report on biodiversity and ecosystem services of 
the Intergovernmental Scie nce-Policy Platform on Biodiversity and Ecosystem Services , pp. 12 -13, 
A.2.  
2  World Economic Forum (2020), Nature Risk Rising: Why the Crisis Engulfing Nature Matters for  
Business and the Economy. 
3  Barbier et al. (2018), How to pay for saving biodiversity. 
4  Balmford et al. (2002), Economic reasons for conserving wild nature. 
5  Hepburn et al. (2020) , Will COVID -19 fiscal recovery packages accelerate or retard progress on 
climate change?, Smith School Working Paper 20-02.