Economic Growth and Environmental Protection: Latin America’s Role in Global Conservation Efforts

In a new major study from Cambridge University, more than 100 international economists and scientists demonstrate that the economic benefits of large-scale conservation far outweigh the costs. According to the report, “Protecting 30% of the Planet for Nature,” increasing land and marine protected areas could lead to an average of $250 billion in increased economic output each year and an average annual increase of $350 billion in improved ecosystem services.

Latin America and the Caribbean represent the world’s most biologically diverse region. Two countries, Costa Rica and Chile, have taken the lead in implementing large-scale conservation efforts that have won world-wide acclaim. Costa Rica has pioneered ecosystem service payments that have allowed forest cover to thrive; and Chile has led the region in the scope of both land and marine conservation initiatives.

How might conservation-based solutions in Latin America be part of a “new normal” model of development for confronting the economic challenges posed by COVID-19? How can actors in government, the private sector, and civil society work together on these critical issues?