The United Nations Environment Programme (WFP) said that the consumption of natural resources such as water and forests can reduce the government's fiscal revenue in the next five years, increase the investment risk of sovereign bonds.
Such as metals and mineral resources, competition is growing, as more and more countries rely on them can not offer their goods, the UNEP Global Footprint Network developed in a report. Government's fiscal position will begin to feel the downward pressure on these resources, it said.
Overall risk and loss of natural resources, such as forests and freshwater environments change, until recently, in the strident edge and economic planning of the economy, people Nick Nuttall, UNEP Spokesperson said: "by telephone from Nairobi. "Maintain the operation of this planet's natural resources, ecosystem accounts of profit and loss of the country, almost invisible until now."
E-RISC, or environmental risks of sovereign credit analysis tools can be used, including the risk of sovereign credit risk assessment of natural resources. Investors hope that a better understanding of emerging risks in the bond market, the report says, the fear of debt levels in Europe and the United States has been shaken by the perceived risk-free government bonds.
The report analyzes five countries - Brazil, France, India, Japan and Turkey. The survey found that 10% of the volatility of commodity prices, can change a country's trade balance is equivalent to a country's gross domestic product (GDP) of 0.2% and 0.5%.
Resources decreased by 10%, assuming other things remain the same, it may lead to a reduction in the trade balance is equal to 1% and 4% of a country's gross domestic product (GDP). The sovereign debt at the end of 2010 to $ 41 trillion.
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