Overuse of natural resources needs greater attention:UNEPListen /
Loss of soils, forests and fisheries, as well as rising resource costs, are likely to become increasingly important to a nation's economic health, says UNEP, the UN Environment Programme.
A report issued by UNEP's Finance Initiative says resource degradation has the potential to make worse the debt crises that have already helped trigger, and deepen, the global economic downturn.
But it says despite this, environmental risks have not been taken into account when determining credit ratings or economic resilience.
UNEP Executive Director Achim Steiner, speaking at the launch of the report in London, said "The time has come for a better understanding of the connection between environmental risk, and sovereign credit risk. He added that only then will investors, credit rating agencies and governments be able to plan effectively with the kind of insight aimed at ensuring long-term economic health and stability".
Gerry Adams, United Nations.