The destruction of wildlife can have serious economic consequences

By: STA Date: 2024. 10. 31. 10:45

The need to protect the living world is extremely important, not only from an ethical point of view, but also from an economic point of view, said Oszkár Ökrös, Deputy State Secretary of the Ministry of Agriculture, at the 16th UN Biodiversity Summit in Cali. At the international event, the results of the joint research of the Hungarian National Bank, the European Commission, the OECD and the Ministry of Agriculture on the financial risks of the loss of biodiversity were presented in the framework of a joint professional event.

(Photo: AM/Csaba Pelsőczy)

At the international event presenting the study, Oszkár Ökrös, Deputy State Secretary of the Ministry of Agriculture, said that similar research not only helps the economic sector to better grasp and reduce financial risks, but also increases the visibility of nature conservation and supports its necessity with tangible scientific data. Oszkár Ökrös emphasized that more than half of the total global GDP depends on nature and its services, therefore the risks lurking in the living world are also a financial threat. He pointed out that according to a joint study by the three organizations, as a result of the shocks affecting the living world, the GDP may decrease by up to 4-7%, and the ratio of non-performing loans may increase by 1-3%. The deputy state secretary underlined that, based on this recognition, the Hungarian government takes the protection of biological diversity and the issue of nature conservation seriously, which is why our country was one of the first in the world to adopt its National Biodiversity Strategy until 2030, and in the past fifteen years, an unprecedented level of nature conservation made an investment. Oszkár Ökrös emphasized that one-fifth of Hungary’s territory is protected and government investments have improved the condition of habitats on more than 300,000 hectares, about 15% of protected areas.