The Final Report of the Independent Review on the Economics of Biodiversity, led by Professor Sir Partha Dasgupta and commissioned by the UK government, was published in February 2021. The landmark report, which is also known as the Dasgupta Review, spans more than 600 pages and draws on public policy, science, economics, finance, and business.
The Review “calls for changes in how we think, act and measure economic success to protect and enhance our prosperity and the natural world. Grounded in a deep understanding of ecosystem processes and how they are affected by economic activity, the new framework presented by the Review sets out how we should account for Nature in economics and decision-making.” The Final Review comprises the Full Report, an Abridged Version, and Headline Messages, all of which are available here.
On Friday, March 12, 2021, the Coalition of Finance Ministers for Climate Action hosted Ant Parham and Emily McKenzie from Her Majesty’s Treasury, UK – both members of the Dasgupta Review team – who presented key findings from the Review.
The findings are of great relevance for Ministries of Finance, as they take steps to address the climate and biodiversity crises. Members of the Coalition discussed approaches Ministries of Finance can take to integrate biodiversity considerations into policy and practice based on experiences from mainstreaming climate change into economic and financial policies. They also discussed the need to explore potential actions at the nexus of climate and biodiversity, as well as how to manage the conservation of critical biodiversity and ecosystem services that are global public goods. Coalition Members agreed to explore how to integrate biodiversity in the workstreams of the six Helsinki Principle workstreams and determined that the Coalition can create value for its Member countries by providing an overview of the economic relevance of biodiversity loss.