Legal and sustainable wild species trade: learnings and implications for nature market governance
This joint paper by the Taskforce on Nature Markets and TRAFFIC asserts the crucial role of the business and finance sectors in facilitating strong nature markets and purging illegal and unsustainable trade in their commerce. It demonstrates the high costs of inaction to address biodiversity loss for the sector; for example, between 1997 and 2011, the global economy suffered an estimated annual loss of USD4-20 trillion in ecosystem services. Although, as it stands, measures by the financial sector are often still voluntary, the report outlines a set of recommendations.
