CLIMATE CHANGE

Nature loss 'dwarfs bank crisis'

The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study.It puts the annual cost of forest loss at between $2 trillion and $5 trillion.The figure comes from adding the value of the various services that forests perform, such as providing clean water and absorbing carbon dioxide.The study, headed by a Deutsche Bank economist, parallels the Stern Review into the economics of climate change.