LUXEMBOURG, Oct. 15 (UPI) -- The European Union said the economic climate might prevent new investments in biodiversity loss, a lawmaker said from Luxembourg.
European leaders met in Luxembourg to discuss an effort to thwart biodiversity loss by 2020 and increase efforts to restore the ecosystem in the region.
The effort comes as world leaders get set for a conference on biodiversity, which is to begin Monday in Nagoya, Japan.
Finnish Environment Minister Joke Schauvliege said there was little ambition to set aside any significant amount of funds for the effort given the current economic climate.
"We have the economic situation, so we decided that we are not really able to put new money on the table in Nagoya," she was quoted by the EUobserver as saying.
A report from the European Commission found in 2008 that 50 percent of the species and up to 80 percent of the habitats in the Europe community are threatened. The losses cost member states about $65 billion each year but could rise to $18 trillion by 2050, the commission cautioned.
The European Environment Agency, meanwhile, found greenhouse gas emissions reported by member states in 2009 actually declined because of the poor economy.
