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Land use change has transformed ecosystem pattern and process across most of the terrestrial biosphere, a global change that could be potentially catastrophic for both humankind and the environment. Chapter 5 explores how this threat is related to the underpricing of natural landscape in all economies, and how addressing this critical problem is essential to creating the incentives, institutions and innovations needed to change humankind’s relationship with nature. The underpricing of natural landscape also perpetuates rural poverty, and the impacts of land use change are borne increasingly by the poor. Decoupling development from excessive land use change leading to ecosystem decline is necessary to make our economies both more sustainable and inclusive. Global biodiversity conservation is also plagued by underfunding, as the international community struggles to compensate developing countries for protecting valuable terrestrial habitats. Collective action will require commitments not only by rich countries to assist poorer ones in protection and restoration efforts but also by the private sector to invest in nature to reduce the risks from biodiversity and ecosystem loss.
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