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Publication of the UN-sponsored study The Economics of Ecosystems and Biodiversity
Launched as part of the 10th meeting of the Conference of the Parties (COP 10) in Nagoya, Japan on October 20th, and fruit of a vast international study, the UN-sponsored report entitled, The Economics of Ecosystems and Biodiversity (TEEB), demonstrates that the value attributed to “natural capital” can have significant economic benefits.
Guided by the principal that “you cannot manage what you do not measure”, Pavan Sukhdev, leader of the TEEB study, Special Advisor and Head of the United Nations Environmental Programme's Green Economy Initiative and formerly Head of Deutsche Bank's Global Markets Business in Bombay, delivers a thorough and convincing economic argument for the conservation of ecosystems and biodiversity.
The report underlines the global economic benefits of biodiversity and sheds light on the costs associated with the loss of biodiversity and the degradation of ecosystems. The study proposes solutions and positive actions that can be undertaken by decision-makers, administrators, companies and individuals.
On a local level, despite the fact that Mount Royal’s “capital” remains largely intrinsic, the decree creating the Mount Royal Historic and Natural District in 2005 by virtue of the Cultural Property Act was an unprecedented protection measure for the entire mountain territory. Five years after the adoption of the decree and in the context of the review of the Cultural Property Act currently in progress, Les amis de la montagne are preparing an assessment of the application and results of this newly defined legal protection status for the mountain, to be submitted to the government early next year.