What are the economic costs of environmental degradation?

What are the economic costs of environmental degradation?

Environmental degradation can lead to significant economic costs, including loss of biodiversity, reduced agricultural productivity, and increased health care costs due to pollution.

Can you give me some specific examples of these costs?

Sure! For instance, deforestation can lead to soil erosion, which reduces crop yields. This can cost farmers millions in lost revenue.

How does pollution affect the economy?

Pollution can increase healthcare costs and reduce worker productivity. For example, air pollution is linked to respiratory diseases, leading to higher medical expenses and lost workdays.

What can be done to mitigate these costs?

Investing in sustainable practices, enforcing environmental regulations, and promoting renewable energy can help mitigate these economic costs.