World Bank Estimates Cost of Logging, Fishing and the Wildlife Trade

World Bank Estimates Cost of Logging, Fishing and the Wildlife Trade

5 days ago

By Eliza Erskine

Lead Image Source :vanchai tan / Shutterstock.com

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Areportfrom the World Bank is identifying the economic costs ofillegal logging, fishing, and thewildlife trade. The bank puts the cost of these illegal activities at between $1 and $2 trillion.

The report,Illegal Logging, Fishing and Wildlife Trade: The Costs and How to Combat It, found that the majority of the losses-90 percent- are from ecosystem services provided by oceans and forests, including biodiversity, flood retention, carbon storage, and water filtration. Theseneedsare fulfilled by these ecosystems and it’s expensive to be without them.Advertisement