Wetland loss could cost global economy 39 tln USD, report warns
Unveiled at the ongoing 20th Ordinary Session of the African Ministerial Conference on the Environment (AMCEN-20) in Nairobi, the capital of Kenya, the Global Wetland Outlook report said that although wetlands cover only 6 percent of the Earth's surface, they provide critical ecosystem services, including flood control, food production, and carbon storage, valued at the equivalent of 7.5 percent of global gross domestic product.
Compiled by the Secretariat of the Convention on Wetlands (Ramsar Convention), the report said that the world is losing wetlands at an annual rate of 0.52 percent. This loss significantly undermines global efforts to combat the climate crisis, biodiversity loss, hunger and poverty.
Musonda Mumba, secretary general of the Convention on Wetlands, said that restoring degraded wetlands could unlock massive socio-economic benefits for rural communities and accelerate the green transition.
"We need to value wetlands and increase investments towards their restoration, since losing them comes at a heavy cost to planetary health and livelihoods," Mumba said.
The report, titled "Valuing, Conserving, Restoring and Financing Wetlands," estimated that about 411 million hectares of wetlands have been lost globally since 1970, representing a decline of 22 percent.
It added that 25 percent of the remaining wetlands are degraded, suffering from unsustainable land-use practices, invasive species, pollution, rapid urbanization, and climate change impacts.
The report was released ahead of the 15th Meeting of the Conference of the Contracting Parties to the Ramsar Convention on Wetlands (COP15), scheduled for July 23-31 in Zimbabwe.
Zimbabwean Minister of Environment, Climate and Wildlife Evelyn Ndlovu said that the data from the report will help inform policy and legislative interventions to halt wetland depletion.
Ndlovu called for cross-border wetland conservation initiatives, knowledge sharing, innovative financing, and greater community engagement to help restore the ecological health of this vital ecosystem across Africa.
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