This article was originally published on Inter-American Development Bank.
“Natural capital accounting (NCA) broadens our standard measures of economic performance (e.g. GDP) by taking stock of the very foundation of wealth- a nation’s environmental resources. In the last decade, we have witnessed a surge in activity in this space with significant advances in the transdisciplinary science of measuring the environment’s contribution to wealth and well-being as discussed in a previous publication of this blog. While our tools for quantifying natural capital and organizing this information in an accessible way have improved dramatically, it is now apparent that there is a critical need to link NCA with policy making.
The Dutch Foreign Ministry and World Bank Waves advanced this agenda by hosting the first Natural Capital Accounting for Better Policy Forum on November 23 at The Hague, where I was invited to present our advances in the development of modelling approaches to link NCA with policy to generate relevant and timely advice. The Forum was an enriching experience, bringing together participants from low to high income countries with participants representing the spectrum from supply side NCA producers to demand side policy and decision-making users…”
Read on at: Inter-American Development Bank.