Many scientists agree that we are in the midst of a mass extinction event. One estimate states half of the world's species may be extinct by the end of this century. Scientists trying to protect biodiversity -- the complete catalog of all living things -- are working in the dark and against time.

Paradise Earth attended The Future of Biodiversity lecture at Arizona State University's School of Life Sciences on January 31, 2008. Two of the most influential scientists on the forefront of the campaign to save the planet's biodiversity, Dr. Thomas Lovejoy and Professor Sir Peter Crane, presented and discussed their views concerning the planet's rapid loss of biodiversity, the impacts this loss has on our society, and some strategies for promoting a healthier future.

Dr. Lovejoy began the lecture with lessons learned from his years spent researching the Brazilian rainforest. Realizing something needed to be done concerning the rapid destruction of the land, he began to develop a plan. He found the rapid loss of biodiversity in the area was due to human activity -- mainly carbon dioxide emissions and habitat destruction -- so he developed an incentive for countries to retain their natural resources and limit the human impact on the land. He termed the incentive 'Debt-for-nature swap'. "The debt-for-nature swaps are financial transactions in which a portion of a developing nation's foreign debt is forgiven in exchange for local investments in conservation measures' stated Dr. Lovejoy. The concept of debt-for-nature swaps was first conceived as an opportunity to deal with the problems of developing-nation indebtedness and its consequent deleterious effect on the environment. In the wake of the Latin American debt crisis that resulted in steep reductions to the environmental conservation ability of highly-indebted nations, Lovejoy suggested that ameliorating debt and promoting conservation could be done at the same time.

He discussed the commercial and bilateral options for the debt-for-nature swaps. A commercial swap involves an international non-governmental organization (NGO) that purchases debt titles from commercial banks on the secondary market. The NGO transfers the debt title to the debtor country, and in exchange the country uses the funds to establish conservation programs. The bilateral debt-for-nature swaps take place between two governments when one country forgives a portion of the debt of another country in exchange for environmental commitments from that country.

Dr. Lovejoy realizes the importance of placing real market values on the environment in order to make humans re-evaluate and change their actions. Our quality of life and that of our children is at stake.

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