Report: $70 Billion in Freshwater Resources at Risk Annually
70 billion worth of goods and services from freshwater resources could be at risk annually if governments do not manage wetlands in a more sustainable way, according to a new report by the World Wildlife Fund.
70 billion worth of goods and services from freshwater resources could be at risk annually if governments do not manage wetlands in a more sustainable way, according to a new report by the World Wildlife Fund.
The report, “The Economic Values of the World's Wetlands,” uses data from existing valuation studies to put the annual global value of these wetlands at $70 billion through functions such as flood control, recreational fishing, amenity and recreation and water filtration.
It highlights the fact that a large amount of money is spent each year on the draining of wetlands for irrigation, agriculture and other land uses for immediate economic benefit. Since 1900, more than half of the world's wetlands have been destroyed as a result of population increase and urban development. The report says this has led to increased flooding, water contamination and water shortages and costs governments more money and time to repair the damage caused.
In the Everglades in Florida, for example, rapid population increase, development and urban sprawl have destroyed half of the original wetlands. Attempts to repair the resulting damage, such as water shortages and species decline, will take decades and cost approximately $8 billion, the report claims.
"Decision makers often have insufficient understanding of the values of wetlands and fail to consider their protection as a serious issue," said Dr. Kirsten Schuyt, WWF International's resource economist and co-author of the report. "Wetlands are often perceived to have little or no economic value compared to land-use activities which may yield more visible and immediate economic benefits."
The study calculates that Asian wetlands have an economic value three times higher than those of the United States, despite the fact that the total area of Asia's wetlands analyzed is less than half of North America's. This is due to a higher population density, which means high demand for wetland goods and services.
WWF have called for governments to recognize the economic, social and environmental value of wetlands and include the sustainable management of these ecosystems in their national agenda. The group says that the most valuable wetland sites should be listed under the Ramsar Convention, the only international treaty on wetland protection.
The report, “The Economic Values of the World's Wetlands,” uses data from existing valuation studies to put the annual global value of these wetlands at $70 billion through functions such as flood control, recreational fishing, amenity and recreation and water filtration.
It highlights the fact that a large amount of money is spent each year on the draining of wetlands for irrigation, agriculture and other land uses for immediate economic benefit. Since 1900, more than half of the world's wetlands have been destroyed as a result of population increase and urban development. The report says this has led to increased flooding, water contamination and water shortages and costs governments more money and time to repair the damage caused.
In the Everglades in Florida, for example, rapid population increase, development and urban sprawl have destroyed half of the original wetlands. Attempts to repair the resulting damage, such as water shortages and species decline, will take decades and cost approximately $8 billion, the report claims.
"Decision makers often have insufficient understanding of the values of wetlands and fail to consider their protection as a serious issue," said Dr. Kirsten Schuyt, WWF International's resource economist and co-author of the report. "Wetlands are often perceived to have little or no economic value compared to land-use activities which may yield more visible and immediate economic benefits."
The study calculates that Asian wetlands have an economic value three times higher than those of the United States, despite the fact that the total area of Asia's wetlands analyzed is less than half of North America's. This is due to a higher population density, which means high demand for wetland goods and services.
WWF have called for governments to recognize the economic, social and environmental value of wetlands and include the sustainable management of these ecosystems in their national agenda. The group says that the most valuable wetland sites should be listed under the Ramsar Convention, the only international treaty on wetland protection.
