Nature loss could put as many as 140 million jobs at risk across the EU, UK and Switzerland, equivalent to 60% of all people employed across the region, new data from Global Canopy has suggested.
According to Global Canopy’s ENCORE Insights: Country Dashboard, which was published during COP17 in Armenia, Germany stands to face the most job losses from nature loss, with up to 21.8 million jobs potentially at risk, representing around €1 trillion in annual wages.
In the UK, 20.6 million jobs are potentially exposed, with annual wages worth around £650 billion, the data showed. France has 16.3 million jobs at potential risk, representing €813 billion in annual wages, while the Netherlands and Switzerland have 5.8 million jobs and 2.7 million jobs potentially at risk, respectively.
‘Disrupt and compromise’
‘Many production and commercial processes and buildings depend on nature in order to function,’ Global Canopy said. ‘Nature loss can disrupt and compromise these processes and buildings, forcing employers to respond with adaptation measures that may affect their employees. If employers fail to adapt, jobs may be lost.’
Operational disruptions from nature loss could nclude reduced working hours and wages, changes to skillsets, difficulties sourcing goods and services, and an acceleration in the number of businesses facing heightened financial difficulties and/or bankruptcies.
“140 million is a huge number of jobs – equivalent to around 60% of all people employed in the EU, UK and Switzerland,” commented Dr Claudia Gray, nature-related finance director, Global Canopy. “It shows the vast number of livelihoods that could be disrupted given the huge dependence of national economies on the infrastructure that nature provides.”
Goods and services
Elsewhere, Global Canopy’s analysis suggested that as much as €8.2 trillion of goods and services consumed annually across the EU, UK and Switzerland could be affected by nature loss – half the total consumption in the region – with availability and affordability issues potentially leading to scarcity and price shocks.
Exports are also likely to be exposed, with as much as €3.5 trillion of annual exports from the EU, UK and Switzerland potentially disrupted by nature loss.
“People worry about their jobs and living standards being affected by AI and global conflict,” Gray added. “But how nature loss threatens employment, wages and supply chains deserves attention. As we face record droughts, wildfires and floods, we need to consider how nature loss triggers and exacerbates economic disasters.
“While central banks, governments and businesses see the economic importance of human-built infrastructure, the natural infrastructure that underpins national economies is often taken for granted. Central bank and government policies must reflect the role of protecting and restoring nature domestically and internationally to build economic resilience across Europe.” Read more here.
