Hindustan Times | Rohini Nilekani writes: India’s biodiversity is a strategic advantage

Biodiversity markets are deepening, with a growing demand for high-quality carbon credits with biodiversity safeguards. There is a strong pushback from environmentalists. Yet, if done right, it could allow first mile communities to be rewarded for conservation practices, to improve their lives and livelihoods.

The European Space Agency has launched a mission to map global biomass, penetrating dense forests to assess stored carbon. The Global Biodiversity Standard may push biodiversity monitoring further. This, in turn, will fuel the demand for verified ecosystem services provided by natural environments. The time is ripe to enhance our national, natural biodiversity.

India’s Nationally Determined Contribution (NDC) commits us to 3 billion tonnes of CO2 sinks through additional forest cover by 2030. This is both a moral obligation and a strategic imperative for us. In 2023 alone, the Earth lost 3.7 million hectares of tropical forest, which accounted for 6% of global CO2 emissions. By one estimate, in just one year, the climate crisis has led to population weighted GDP loss of 6.3%, disproportionately affecting Southeast Asia. If we do not take this seriously, however, our economic growth can stall, with cascading impacts on well-being. All economic activity stands on the foundation of ecological security. We have been and will remain a biomass-based society for a long time to come. Whether or not we participate in biodiversity markets, it is in our self-interest to regenerate this land.

Luckily, despite more than three decades of fast-tracked development, inevitably swallowing up natural capital, India retains high biodiversity. The Forest Rights Act recognises the critical role of indigenous communities in conservation. Centuries of stewardship ensured that only four mammals — the Asiatic cheetah, the Javan rhinoceros, Sumatran rhino, and the banteng — have become extinct in India, though many are now endangered.

India is still blessed with vast floral and faunal species. We boast 13% of global bird species, and part of the world’s largest mangrove forest. Though nearly half our land is under cultivation, there is significant co-existence with wildlife; 300 species were documented just in the agricultural lands of the Ganga basin. Outside our forests, pastoral lands, tea and coffee plantations and even urban parks hold untold biodiversity.

Protect our plants, and we protect critical water sources that are an insurance against disrupted monsoon patterns. Forests slow down water, and they do it for free. The cost of man-made infrastructure for the same service has been prohibitive and repetitive — a Sisyphean task. Protect our animals, and we protect pharmaceutical innovation and the health care of our citizens. The drugs of the future are waiting to be discovered in our biota.

Much has been newly understood about zoopharmacognosy — how animals use plants as natural medicine. Most primates, big cats and even domesticated cattle and dogs still have the nutritional wisdom to seek out worm-destroying shrubs and grasses. We can learn much from the animal world about protecting human health.

Biodiversity research also offers remediation against new pollutants. University of Wuhan researchers found that a sponge made of cotton and squid could absorb 99.9% of microplastics in water. Indian universities must urgently ramp up such research, leveraging the opportunity from fleeing global talent.

If forests are a storehouse for genetic resources, new materials, and biomimicry-based innovations, trees also create microclimates that mitigate the impact of extreme heat; 2024 was the hottest year on record. Churu, Rajasthan recorded a maximum of 50.5°C. At those temperatures, people can die. We need shady cover more than ever.

There is a price to be paid for inattention. Bees, essential for pollinating half of all food crops, are declining worldwide. Honeybee deaths have hit record highs, including in Punjab. Commercial beekeepers in the US have lost 60% of their colonies, valued conservatively at $139 million this year.

We are entangled with nature even as we drive species extinction. For today’s generations, we need to spell out that entanglement. Can we go beyond GDP to better account for our natural capital?

Recently, the Indian Institute of Forest Management, in collaboration with the National Tiger Conservation Authority, conducted an economic valuation of India’s tiger reserves, using Stanford University’s open source InVest methodology. The study estimated that each of the 10 tiger reserves monitored generated about $1.2 billion to $4.0 billion in ecosystem services every year. Imagine what we will uncover about the inherent value of other ecological assets, by using indigenously refined models.

When we do, it will be easier to make better development trade-offs. A highway through a forest? A mega dam across a life generating river? Let’s consider smarter alternatives.

Measuring biodiversity is only one way to enhance public appreciation of the ecological legacy we borrow from future generations. If we as shareholders are inspired to become trustees of India’s natural capital, it will become a kamadhenu — a gift that keeps on giving.

Rohini Nilekani, chairperson, Rohini Nilekani Philanthropies, is the author of Samaaj, Sarkaar Bazaar – A citizen first approach. The views expressed are personal.