The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services concluded its twelfth plenary session in Manchester on Saturday, approving a landmark Business and Biodiversity Assessment that for the first time quantifies how the global economy depends on and damages the natural world. Nearly 150 member countries participated in the six-day summit at Manchester Central Convention Complex, marking the first time the United Kingdom has hosted the influential biodiversity body.
The assessment, developed over three years by 80 leading experts from 35 countries and drawing on more than 5,000 sources across six chapters, paints a stark picture of economic vulnerability. According to the report, over half of global GDP, roughly 117 trillion US dollars of economic activity, is generated in sectors that are moderately to highly dependent on nature, from agriculture and forestry to pharmaceuticals and tourism.
The economic consequences of inaction are equally striking. Conservative estimates in the assessment warn that a collapse of essential ecosystem services, including pollination, marine fisheries, and timber provision from native forests, could result in annual losses of 2.7 trillion dollars to the global economy by 2030. Biodiversity loss is already believed to be costing the world economy approximately 10 percent of its output each year.
However, the report also highlights significant opportunities. Immediate action to address the biodiversity crisis could unlock massive business and innovation potential, generating 10 trillion dollars in new economic value and supporting 395 million jobs worldwide by 2030. IPBES Chair David Obura described the Manchester gathering as opening a new chapter in transformative change in how businesses relate to biodiversity.
The plenary opened with statements from King Charles III, who has long championed environmental causes, and UK Environment Secretary Emma Reynolds. The European Union, which has contributed nine million euros to the IPBES Trust Fund and invests over one billion euros in biodiversity research through its Horizon Europe programme, sent a full delegation. Five new nations, including Iceland, Rwanda, Poland, Malta, and Cyprus, formally joined IPBES during the session.
The approved summary for policymakers will be published in six languages on February 9 and is expected to guide governments, corporations, and investors in making nature-positive decisions. Delegates also reviewed progress on two forthcoming assessments: a report on integrated biodiversity-inclusive spatial planning and ecological connectivity due in 2027, and a comprehensive second global assessment of biodiversity and ecosystem services scheduled for 2028.
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