Biodiversity and economy – pathways for change in Finland based on the Dasgupta report

Human prosperity has increased at the expense of nature. Exceeding the carrying capacity of nature will reduce our welfare because nature’s ecosystem services are not able or sufficient to satisfy our needs at the current level of consumption.

In the review prepared for the HM Treasury of the UK, Partha Dasgupta focuses on inherent flaws in our social and financial systems that cause biodiversity loss. Our report commissioned by the Ministry of the Environment and published in 2023 describes that the ground-breaking Dasgupta Review means for Finland.

The scientific panel coordinated by Luke investigated what the ten economic pathways described by Dasgupta mean in Finland on concrete terms.

Metrics are needed to address biodiversity, ecosystem services and nature capital that help monitor links between the environment and economics. The measurement of the adverse impact caused by companies’ production chains on nature must also be developed and regulated to control the impact and to allow companies to communicate it to their stakeholders.

For example, trade policy can support the achievement of nature goals by setting import subsidies for sustainable commodities and duties based on the nature footprint of products (cf. carbon tax). Trade policy must also prevent overconsumption.

A shift to a more plant-based food chain calls for changes in both food production and consumption. This requires investments in R&D and the ability of professionals and consumers to make more plant-based meals.

The report drew significant media attention and the Martha Association and the Confederation of Finnish Industries, among others, issued a statement on it in 2023. In addition, the report made the measures required for decision makers more concrete and accelerated the dialogue on the benefits offered by nature to people, the loss of nature capital and the acceptability of measures to prevent nature loss.