Nature degradation could cause financial losses to the UK economy greater than Covid-19 and 2008 financial crash

Nature degradation could result in a 12% drop in UK GDP by 2035, analysis by the Green Finance Institute shows

Damage to the UK’s natural environment could result in a 12 per cent loss in gross domestic product by 2035, according to research by the Green Finance Institute. This would outstrip the losses caused by the financial crisis of 2008, which resulted in a 5 per cent drop in UK GDP, and the Covid-19 pandemic, which cost the UK 11 per cent of GDP in 2020.