Clause 3
Climate Change Bill [Lords]
1:00 pm
David Maclean (Penrith and The Border, Conservative)
Even if the $4.8 trillion figure is an exaggeration, the lowest figure is $2.1 trillion per annum according to a report to the UN convention on biological diversity in Bonn. The report, entitled “The Economics of Ecosystems and Biodiversity”, was commissioned by the European Union and the German Government. For the first time, I believe, the report attaches a monetary value to the services provided by species and ecosystems. The report says that those systems are often undervalued by humanity. That is an important new piece of scientific knowledge relating to climate change that none of us knew about and which scientists have generally not taken into account in the past.