text: Biodiversity loss and ecosystem collapse are one of the biggest threats facing humanity 
  in the next decade14. They also threaten the foundations of our economy and the**costs of**
  **inaction**are high and are anticipated to increase15. The world lost an estimated €3.5-18.5 
  trillion per year in ecosystem services from 1997 to 2011 owing to land-cover change, 
  and an estimated €5.5-10.5 trillion per year from land degradation. Specifically, 
  biodiversity loss results in reduced crop yields and fish catches, increased economic 
  losses from flooding and other disasters, and the loss of potential new sources of 
  medicine16. 
  
  The EU is ready to show ambition to reverse biodiversity loss, lead the world by example 
  and by action, and help agree and adopt a transformative post-2020 global framework at 
  the 15th Conference of the Parties to the Convention on Biological Diversity. This should 