Failing to Protect Wetlands Could Be Financially Risky

According to a new World Wildlife Fund (WWF) report, $70 billion worth of goods and services from freshwater resources could be lost annually if governments fail to manage their wetlands sustainably.

The report, The Economic Values of the World’s Wetlands, is the first comprehensive overview of the economic values of the world’s wetlands. It analyzes the 89 existing valuation studies and uses a database covering a wetland area of 630,000 square kilometers, putting the annual value of wetlands at a very conservative US$3.4 billion. But extending this figure using the Ramsar Convention's global wetland area estimate of 12.8 million square kilometers, the WWF report concludes that the annual global value of wetlands is US$70 billion. It shows that amenity and recreation, flood control, recreational fishing, and water filtration are the most valued functions of wetlands. However, according to the report billions of dollars are spent each year on the draining of wetlands for irrigation, agriculture, and other land uses for immediate economic benefits. This has led to increased flooding, water contamination, and water shortages worldwide, and costs governments large amounts of time and money to later repair such damage. WWF believes that governments must recognize the economic, social, and environmental value of wetlands and include the sustainable management of these ecosystems in their national agenda. To view the report, visit http://panda.org/downloads/freshwater/wetlandsbrochurefinal.pdf.