Economic Advantages of Granting the Rights of Nature

Abstract

As global environmental challenges intensify, the concept of granting rights to nature has gained attention not only as an ethical imperative, but as an economically viable solution. In economic terms, the ecosystem services provided by protected areas are worth several hundred billion dollars a year (McNeely, 2020). Recognizing nature's rights – particularly for critical natural resources such as rivers and other water ecosystems – may create the foundation for sustainable economic growth, resilience, and long-term prosperity. In Europe, the argument for legal rights for nature could find support in factors such as improved resource management, reduction of environmental degradation costs (Darpö, 2021), stimulation of green industries (European Economic and Social Committee et al., 2020), and alignment with the European Union’s commitment to environmental sustainability (European Economic and Social Committee et al., 2020), which will be elaborated in this paper