Question

 

"Future generations can cast neither votes in current elections nor dollars in current market decisions. Therefore, it should come as no surprise to anyone that the interest of future generations are ignored in a market economy." R. Leigh, 1989.

Consider, within the context of an essay discussing the treatment given to potentially irreversible environmental impacts (such as habitat destruction or species extinction) in the economic assessment of public project initiatives.

Answer 1

The irreversibility of this species extinction, and loss of genetic strains, natural habitats and ecosystems through degradation and over-exploitation compromise options for present and future generations.

Some Typical Functions and Services of Biological Resources Ecosystem Services

* Protection of water resources (maintenance of hydrological cycles, regulation and stabilising water runoff and underground water tables, acting as a buffer against extreme events such as flood and drought)

* Purification of water (e.g. by wetlands and forests)

Soils Formation and protection (maintenance of soil structure and retention of moisture and nutrient levels helping to preserve soil's productive capacity)

Nutrient storage and recycling (of atmospheric as well as soil-borne nutrients both necessary for the maintenance of life)

Pollution breakdown and absorption (by components of ecosystems ranging from bacteria to higher life forms, and ecological processes)

Contribution to climate stability (vegetation influences the climate at the macro and micro level)

Maintenance of ecosystems (maintaining a balance between living things and the resources - such as food and shelter - they need to survive)

Recovery from unpredictable events (such as fire, flood, cyclones and disasters initiated by humans);

Habitat loss poses the greatest threat to species. The world's forests, swamps, plains, lakes, and other habitats continue to disappear as they are harvested for human consumption and cleared to make way for agriculture, housing, roads, pipelines and the other hallmarks of industrial development. Without a strong plan to create terrestrial and marine protected areas important ecological habitats will continue to be lost.

Habitat loss is probably the greatest threat to the variety of life on this planet today.

Forest loss and degradation is mostly caused by the expansion of agricultural land, intensive harvesting of timber, wood for fuel and other forest products, as well as overgrazing.

The net loss in global forest area during the 1990s was about 94 million ha (equivalent to 2.4% of total forests). It is estimated that in the 1990s, almost 70% of deforested areas were converted to agricultural land.

Around half of the world's original forests have disappeared, and they are still being removed at a rate 10x higher than any possible level of regrowth. As tropical forests contain at least half the Earth's species, the clearance of some 17 million hectares each year is a dramatic loss.

Human impact on terrestrial and marine natural resources results in marine and coastal degradation. Population growth, urbanization, industrialization and tourism are all factors.

In 1994, it was estimated that 37% of the global population lived within 60 km of the coast. Poverty, consumption and land-use patterns contribute to the degradation of marine habitats and to the destruction of the species that rely on them to survive.

Palm oil plantations in the tropical regions of Africa, Latin America, and Asia have led the large scale destruction of important habitat for many species. The largest growth of palm oil plantations has been in Malaysia and Indonesia where large tracts of rainforest are cleared to grow palm oil crops. Orangutans, tigers, elephants, rhinos, and many other species are increasingly isolated and their sources of food and shelter are in decline. Human-wildlife conflict also increases because without sufficient natural habitat these species come into contact with humans and are often killed or captured.