Forest and species action could yield Finland over €1bn a year

Improving forest conditions and reducing the number of threatened species could bring Finland more than €1 billion in economic benefits each year, according to a new assessment reported by Yle. The Finnish Nature Panel also estimates that improving farmland habitats and the ecological condition of the Baltic Sea could generate benefits worth hundreds of millions of euros annually.

The panel published its assessment on Wednesday and urged policymakers to include measures for nature in decision-making. Anna-Kaisa Kosenius, a panel member and lead author of the report, said putting a monetary value on nature’s benefits can make its importance to society more visible. But she said such estimates cover only part of nature’s value and the benefits it provides to people.

The panel said biodiversity also helps ecosystems withstand disruptions, recover from them and adapt to changing conditions. It noted that the economic risks of nature loss have been assessed in the UK, where nature degradation combined with other environmental shocks, including heatwaves, droughts and wildfires, could reduce gross domestic product by 6 to 8 per cent by 2030. If climate shocks, biodiversity loss and antimicrobial resistance strike at the same time, GDP could fall by 14 per cent.

Finland’s biodiversity has declined throughout the 2000s. In a 2019 assessment, 11.9 per cent of the species assessed were classified as threatened. Forest habitat types have deteriorated, while the condition of inland waters has improved slightly, but only in some places. The Baltic Sea’s ecological condition is poor.

Mammals are faring better than other animal groups, while more bird species are declining than increasing. The panel also said human health is connected to the state of nature: time outdoors can reduce stress, increase physical activity and support immune system function.