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Economic gains from natural resources are mostly beneficial when directed towards initiatives such as job creation, skill enhancement, capacity building, and pursuit of long-term developmental objectives. Thus, reliance on one or more natural resources holds financial risk when aiming for a stable economic growth. [28]
Overexploitation often occurs rapidly as markets open, utilising previously untapped resources, or locally used species. The Carolina parakeet was hunted to extinction. Today, overexploitation and misuse of natural resources is an ever-present threat for species richness.
The arid areas of the world are requiring more and more water for growing populations and agriculture. In the San Joaquin Valley of the United States, groundwater pumping for crops has gone on for generations. This has resulted in the entire valley sinking an extraordinary amount, as shown in the figure. [4] This has not come without consequences.
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution.The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.
World leaders are meeting in Paris this month in what amounts to a last-ditch effort to avert the worst ravages of climate change. Climatologists now say that the best case scenario — assuming immediate and dramatic emissions curbs — is that planetary surface temperatures will increase by at least 2 degrees Celsius in the coming decades.
One of the main consequences of extractivism is the toll that it takes on the natural environment. Due to the scale extraction takes place on; several renewable resources are becoming non-renewable. [3] This means that the environment is incapable of renewing its resources as quickly as the rate they are extracted at. [3]
Environmental disasters have historically affected agriculture, wildlife biodiversity, the economy, and human health.The most common causes include pollution that seeps into groundwater or a body of water, emissions into the atmosphere, and depletion of natural resources, industrial activity, and agricultural practices.
In northern Peru, the World Bank's business-lending arm is part owner of the Yanacocha gold mine, accused by impoverished farming communities of despoiling their land in pursuit of the precious ore. The bank and IFC have stepped up investments in projects deemed to have a high risk of serious and environment damage, including oil pipelines, mines and even coal-fired power plants, an ...