Wetland loss could cost global economy $39 trillion by 2050

The world’s wetlands are disappearing at the fastest rate of any ecosystem, with a new report warning of major economic losses if urgent action is not taken.

The destruction of wetlands worldwide could lead to a loss of $39 trillion in economic benefits by 2050, according to a report released on Tuesday by the Convention on Wetlands.

Wetlands play a crucial role in supporting fisheries, agriculture, flood regulation, water purification, and carbon storage. The report states that around 22% of global wetlands have vanished since 1970, marking the most rapid decline among ecosystems.

The losses affect both freshwater and coastal systems, including rivers, peatlands, mangroves, and coral reefs. The report identifies several contributing factors: land-use changes, pollution, agricultural expansion, invasive species, and climate change impacts such as sea level rise and drought.

Hugh Robertson, the lead author of the report, warned that the extent of degradation is significant and cannot be overlooked.

The report calls for annual investments ranging from $275 billion to $550 billion to reverse the decline. It notes, however, that current global spending remains considerably below the required level.

Since 1970, an estimated 411 million hectares of wetlands have been lost — an area equal to roughly half a billion football pitches. Additionally, 25% of remaining wetlands are now considered degraded.

The findings come ahead of a global meeting of the parties to the Convention on Wetlands, set to take place next week in Victoria Falls, Zimbabwe. The convention, signed by 172 countries including China, the United States, and Russia, was established in 1971 and meets every three years. It remains unclear whether all signatories will participate in the upcoming session.

According to the report, wetland degradation is most severe in Africa, Latin America, and the Caribbean, though signs of decline are increasingly visible in Europe and North America.

Some countries, including Zambia, Cambodia and China, have initiated wetland restoration projects aimed at reversing the damage.

Copied