A World Bank report, Reboot Development: The Economics of a Livable Climate, has found out that fertilizers boost yields, but overuse in some regions harms crops and ecosystems, costing as much as $3.4 trillion annually.

The report which was released in Washington recently, said air and water pollution silently damage health, productivity, and cognition, thereby sapping human potential.

The report revealed that 90% of the world lives with either degraded land, unhealthy air, or water stress, and pointed out that restoring natural systems is possible and can yield high returns.

The report said in low-income countries alone, eight of out ten people live without all three – healthy air, water, and land – noting that this poses major constraints to economic growth and opportunity.

According to the report, new evidence shows that the loss of forests disrupts rainfall, dries soils, and worsens droughts, costing billions of dollars.

The report stated that: “If managed well, nature can create jobs, drive economic growth, and build resilience.  Using natural resources more efficiently could reduce pollution by as much as 50%. Improving farm-level practices of nitrogen fertilizer use can deliver 25 times greater benefits than their cost, while boosting crop yields. Improving water and sanitation services could be lifesaving: chlorinating water at point of use could save a quarter of the children that prematurely die from water-related issues”.

“People and communities around the world are not just facing an environmental crisis, but an economic one. The good news is that solutions exist. If countries make the right investments now, natural systems can be restored, with substantial returns on growth and jobs,” said Axel van Trotsenburg, Senior Managing Director, World Bank.

“This report offers a new lens for looking at environmental challenges – not as constraints, but as opportunities for smarter development,” he added.