Like Enron, Earth Inc. Sliding Into Bankruptcy

Earth Inc. Sliding Into Bankruptcy
By Stephen Leahy

Credit:WWF-Canon / Hartmut

Mangrove destruction for shrimp farming in Thailand.

May 29 (IPS) – Build a shrimp farm in Thailand by cutting down mangrove forests and you will net about 8,000 dollars per hectare. Meanwhile, the destruction of the forest and pollution from the farm will result in a loss of ecosystems worth 35,000 dollars/ha per year.

This article is part one of a three-part series on natural capital and how future global prosperity and equity can be achieved through the preservation of ecosystems. See Part Two: Global Warming is Real But I didn’t Do It    Part Three: How to Kick-Start the 21st Century Eco-Economy

Many leading development institutions and policy-makers still fail to understand that this ruthless exploitation for short-term profits could trigger an Enron-like collapse of “Earth, Inc.”, experts say.

For example, the World Bank and other economic development agencies would happily loan a shrimp farmer 100,000 dollars to clear more mangroves. Continue reading