The findings of the Millennium Ecosystem Assessment, a four year effort involving over 1,300 scientists from 96 countries, shows that over the last 50 years human activity has altered nature's systems at a faster rate and on a larger scale than at any time in human history. The capacity of nature's systems, the wetlands, marine, coastal, forests, inland water to name just a few, to provide essential services such as food, water, fiber, carbon storage, flood, and disease and climate control has been degraded. Of the 24 services assessed, only four were increasing, while 15 were in decline and five were stable globally, although in trouble in some regions. In short, the Assessment results are tantamount to red lights flashing on nature's control console - at a time when demand for nature's services has never been higher and is set to grow further to meet the needs of an expanding population and growing economies. This talk will provide an overview of the Assessment findings and discuss their implications for development drawing on the recommendations of a recent WRI publication, Restoring Nature's Capital: An Action Agenda to Sustain Ecosystem Services.