{"id":1628,"date":"2021-10-05T11:33:30","date_gmt":"2021-10-05T10:33:30","guid":{"rendered":"https:\/\/portfolio.earth\/campaigns\/bankrolling-plastics-copy\/"},"modified":"2021-11-29T08:53:18","modified_gmt":"2021-11-29T08:53:18","slug":"subsidising-extinction","status":"publish","type":"page","link":"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/","title":{"rendered":"Subsidising Extinction"},"content":{"rendered":"\n<section class=\"inner-page-header\">\n    <div class=\"inner-pad black-bg\">\n    <div class=\"container\">\n        <div class=\"topbar\" data-aos=\"fade\">\n            <header class=\"col title-col \">\n                                    <div class=\"breadcrumbs\" typeof=\"BreadcrumbList\" vocab=\"https:\/\/schema.org\/\">\n                        <!-- Breadcrumb NavXT 7.0.2 -->\n                    <\/div>\n                                                    <img class=\"title-img\" src=\"https:\/\/portfolio.earth\/wp-content\/uploads\/2021\/10\/subsidising-extinction-logo.png\" alt=\"Subsidising Extinction\">\n                            <\/header>\n                            <div class=\"col menu-col\">\n                                        \n                    <ul class=\"menu\">                                <li><a href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/why-this-matters\/\">Why this matters<\/a><\/li>\n                                                            <li><a href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/key-findings\/\">Key findings<\/a><\/li>\n                            <\/ul>                    \n                <\/div>\n                    <\/div>\n\n                    <\/div>\n    <\/div>\n    <div class=\"image\">\n        <a class=\"fom white\" href=\"#next\">Find out more<\/a>\n                    <img class=\"circular\" src=\"https:\/\/portfolio.earth\/wp-content\/uploads\/2020\/12\/bankrollingextinctioncircular.svg\" alt=\"\">\n                <div class=\"background parallax-window\" data-parallax=\"scroll\" data-speed=\"0.8\" data-positionY=\"-50px\" data-image-src=\"https:\/\/portfolio.earth\/wp-content\/uploads\/2021\/10\/forestfire-banner-1-1900x818.jpg\"><\/div>\n    <\/div>\n<\/section>\n\n<div id=\"next\"><\/div>\n\n\n<section class=\"bigblockpad  white-bg copy-offset\">\n    <div class=\"container cf\">\n        <article class=\"cf\" data-aos=\"fade-up\">\n                                        <div class=\"inner right\">\n                    <h1 class=\"p1\">Nature and biodiversity are in crisis, with around 1 million species estimated to be at risk of extinction.<\/h1>\n<p class=\"p1\">The World Bank recently predicted that a collapse in the services that nature provides could lead to global economic losses of $2.7 trillion per year by 2030. The economies of poorer countries which rely heavily on nature and biodiversity are likely to pay the highest price.<\/p>\n<p class=\"p1\">Despite this, publicly owned development banks designed to alleviate poverty are spending taxpayer money on subsidising the destruction of nature at the detriment of people.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\">The gap between what is needed to tackle the biodiversity crisis and what is currently being spent to solve it is estimated to be a staggering US$ 598-824 billion per year for the next 9 years. Around half of this could be secured by shifting existing spending away from harmful practices and towards outcomes that benefit nature.<\/p>\n                <\/div>\n                    <\/article>\n                    <div class=\"biglinks inverted\" data-aos=\"fade-up\">\n                                    <div class=\"flex biglink invert relative\">\n                                                    <a class=\"overlink\" href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/why-this-matters\/\"><\/a>\n                                                <div class=\"col1\">\n                                                            <a class=\"underlined black\" href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/why-this-matters\/\">Find out more<\/a>\n                                                    <\/div>\n                                                    <div class=\"col2\">\n                                <span class=\"intro\">Why this matters<\/span>\n                            <\/div>\n                                                                            <div class=\"col3\">\n                                <p class=\"p1\">We are heading toward ecosystem collapse. Scientists are terming this \u2018biological annihilation\u2019 with 75% of terrestrial environments having been severely altered by human activity to date, which is set to accelerate.<\/p>\n                            <\/div>\n                                            <\/div>\n            \n                                    <div class=\"flex biglink invert relative\">\n                                                    <a class=\"overlink\" href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/key-findings\/\"><\/a>\n                                                <div class=\"col1\">\n                                                            <a class=\"underlined black\" href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/key-findings\/\">Find out more<\/a>\n                                                    <\/div>\n                                                    <div class=\"col2\">\n                                <span class=\"intro\">Key findings<\/span>\n                            <\/div>\n                                                                            <div class=\"col3\">\n                                <p class=\"p1\">No development bank assessed is doing anywhere near enough to exclude nature destructive projects. Whilst governments are beginning to address \u2018biological annihilation\u2019, the DFIs they fund are actively perpetuating the problem, showing clear policy incoherence.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n                            <\/div>\n                                            <\/div>\n            \n                            <\/div>\n                \n    <\/div>\n<\/section>\n\n\n<section class=\"big-title-over relative full-width\">\n    <div class=\"background parallax-window\" data-parallax=\"scroll\" data-image-src=\"https:\/\/portfolio.earth\/wp-content\/uploads\/2021\/10\/drought-bw-1-1731x1200.jpg\"><\/div>\n    <div class=\"container\" data-aos=\"fade\">\n        <h2 class=\"xl white\">People cannot survive or thrive without nature. Biodiversity plays an essential role in sustaining human life.<\/h2>\n    <\/div>\n<\/section>\n\n\n<div class=\"download-bar white-bg copy-offset \">\n    <div class=\"container\">\n                    <div class=\"cf\">\n                <div class=\"inner left\">\n                    <h2>To prevent extinction the banks have to stop funding it.<\/h2>\n                <\/div>\n            <\/div>\n                <div class=\"flex two-col\">\n            \n            \n                            <div class=\"col\">\n                                                                        <a class=\"custom-trigger trigger\" href=\"https:\/\/portfolio.earth\/wp-content\/uploads\/2021\/11\/Portfolio-Earth_Subsidising-Extinction.pdf\" target=\"_blank\">\n                                Download Report <span class=\"arrow\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"42.004\" height=\"25.44\" viewbox=\"0 0 42 25\" preserveAspectRatio=\"none\"><g data-name=\"Group 401\" fill=\"none\" stroke=\"#fcf7f7\" stroke-miterlimit=\"10\" stroke-width=\"4\"><path data-name=\"Line 88\" d=\"M0 12.72h36.125\"\/><path data-name=\"Path 319\" d=\"M27.871 24.025l11.306-11.306L27.871 1.413\"\/><\/g><\/svg><\/span>\n                            <\/a>\n                                                            <\/div>\n                     \n            <div class=\"col\">\n                                \n                <ul class=\"menu\">                            <li><a href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/why-this-matters\/\">Why this matters<\/a><\/li>\n                                                    <li><a href=\"https:\/\/portfolio.earth\/campaigns\/subsidising-extinction\/key-findings\/\">Key findings<\/a><\/li>\n                        <\/ul>\n                            <\/div>\n        <\/div>\n    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