Before COP28, Neil Goddin, co-manager of the Artemis Positive Future Fund, drew up his wishlist of actions from the event, at the to of which was an acknowledgement of the important link between biodiversity and managing the world’s climate.
As I write, Cop28 has nearly run its course. It was supposed to be an opportunity for the world to unite around tangible climate action and deliver realistic solutions. This time of year is generally a time of hope, not cynicism. In that spirit, I will try to be positive!
One thing that I was looking for was a commitment to supporting biodiversity, which is critical in achieving the Paris Agreement goals.
Although estimates vary, the environmental impacts of food and agriculture systems are recognised as high. They are also wide-ranging, extending far beyond a major contribution to climate change.
Biodiversity losses are vast. As the global population continues to grow and standards of living improve, the intensity of farming is having an increasingly damaging effect on our world.
We are already overusing our planet in terms of its resources by around 1.75 times each year[1]. Earth Overshoot Day, the day we consume more than the Earth’s capacity to regenerate those resources for that year, was December 29th in 1970. By 2000 it was September 23rd. This year it was August 2nd. If we all ate like Americans we would need 5.1 Earths. But we cannot be smug in the UK – if everyone on the planet ate like we do we would still need 2.6 Earths[2].
These are sobering figures and should give us all pause for thought. The focus on fossil fuel usage and its impact on temperature change often takes attention away from all the other negative impacts humans are having on the planet.
I know it sounds obvious, but ignoring the obvious is too easy – even for experts. And it is dangerous. We think of farmland as natural, because it is in the countryside. Farmland is rarely natural. We are living in the shadow of both a climate crisis and a biodiversity crisis. They are not separate issues but two sides of the same coin.
Land use change is the biggest driver of biodiversity loss. The 2022 Living Planet Index shows a 69% loss in wildlife populations between 1970 and 2018[3]. Around one million plant and animal species face extinction[4]. We are leaving no area untouched – we have negative impacts on land, sea and air. Freshwater, marine, forestry, grassland and wetland environments are all impacted. These are all areas essential for the wellbeing of humans.
One example is coral reefs. We have lost around half already, and predictions are 70-90% will be lost as temperatures increase past 1.5ºC. We are already at warming levels of 1.2ºC since the industrial revolution began. Corals offer diverse ecosystems. They support more species than any other area of the marine environment. They help with fish levels and act as a natural defence against waves, storms and floods.
Forests are perhaps the most interesting, worrying and depressing biodiversity subject to discuss. They are critical for stabilising our climate. They help regulate the Earth, almost like a giant heart or set of lungs. They affect rainfall patterns and the severity of heatwaves – and, of course, they store carbon. But that really does not do them justice. Forests store more carbon than all the world’s exploitable oil, gas and coal would produce. They absorb 7.6 gigatonnes per year – around 20% of global emissions[5] – yet we cut down an area the size of Portugal each year.
The impacts are huge. They include increased carbon, less carbon absorbed, higher temperatures and less rainfall produced. Rainfall-grown agriculture accounts for around 60% of all food produced globally. So the more forest we cut down, the greater the risk to food security. This is then compounded by the effect deforestation has on the climate.
It has been estimated that the planet provides $125 trillion[6] of value in “ecosystem services – food, fuel and fibre – to humanity each year. This is about 1.5 times global GDP. The world’s mangroves, for instance, provide over $65bn in flood protection and safeguard 15 million people from flooding[7].
Before COP28 started I drew up this wishlist:
- An acknowledgement that climate and biodiversity are closely linked and appreciation of the economic consequences of loss of biodiversity.
- A commitment to review food subsidies. I have written in the past about the cost of Big Macs – why beef is subsidised and lettuce is not is beyond me!
- A global commitment to plant more trees than we cut down. This would be a cheap and simple game-changer.
We got the acknowledgement. Time will tell on the rest. We know that we cannot leave it just to politicians. My dream is that humans wake up to the negative impact they are having on their home. At the risk of sounding like the Grinch to those looking forward to tucking into their Christmas turkey, the simplest thing we can all do is eat less meat. It would enable us to return more farmland to its natural state. This would mean using less fertiliser and water. It would encourage more diverse plant life and more wild animals.
In the meantime, here are three companies (of several) we invest in that support biodiversity:
Tetra Tech is an American consulting and engineering firm that focuses on water, environment, sustainable infrastructure, renewable energy and international development. Among the many things it does, it advises on water treatment and desalination, delivering clean water in towns and cities around the world and stormwater management. It also helps evaluate the risks of microplastics in coastal waters.
Valmont Industries is another American engineering firm. It helps improve farm productivity and water conservation through precision irrigation technology, and also to strengthen energy grids from the impacts of climate change. It has a big focus on conserving resources and improving life.
Halma is a global group of life-saving technology companies, based in the UK, that has an environmental and analysis division. Its Deep Trekker business has a range of remotely operated vehicles and pipe crawlers that help monitor and maintain underwater infrastructure, identifying issues early and safeguarding the ocean environment.
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[1] (https://www.theworldcounts.com/challenges/planet-earth/state-of-the-planet/overuse-of-resources-on-earth).
[2] https://overshoot.footprintnetwork.org/how-many-earths-or-countries-do-we-need/#:~:text=The%20Ecological%20Footprint%20for%20the,if%20everyone%20lived%20like%20Americans.
[3] https://wwflpr.awsassets.panda.org/downloads/lpr_2022_full_report_1.pdf
[4] https://www.npr.org/2019/05/06/720654249/1-million-animal-and-plant-species-face-extinction-risk-u-n-report-says
[5] https://wwflpr.awsassets.panda.org/downloads/lpr_2022_full_report_1.pdf
[6] https://theconversation.com/putting-a-dollar-value-on-nature-will-give-governments-and-businesses-more-reasons-to-protect-it-153968#
[7] https://www.sciencedaily.com/releases/2020/03/200310094242.htm
Main image: etienne-girardet-YBPlELmdJAI-unsplash
