Navigation Links
Countries should implement inclusive wealth accounting
Date:6/18/2012

There is a shared recognition that conventional indicators such as gross domestic product (GDP) are failing to capture the scope countries' wealth. Even in the global recession, many economies appear to be getting wealthier. However, economic development is often happening at the expense of natural capital what people want or need from nature. Despite significant advances in environmental protection over the past 25 years, humanity has failed to conserve resources, safeguard natural ecosystems or otherwise ensure its own long-term viability. The limitations in conventional economic indicators may be in part fueling unsustainable development because changes in natural assets and environmental services are not factored into national accounts, rendering those accounts less useful as indicators of changes in value.

To address these concerns, the UN University and UN Environment Program, in partnership with the Natural Capital Project, a joint partnership of the Stanford Woods Institute for the Environment, the University of Minnesota's Institute on the Environment, The Nature Conservancy and World Wildlife Fund, released the Inclusive Wealth Report 2012 (IWR) today at the Earth Summit 2012 (Rio+20). The IWR proposes an approach to sustainability based on measuring natural, manufactured, human and social forms of capital. It represents a crucial first step in transforming the global economic paradigm, by ensuring that we have the correct information to assess economic development and well-being and to reassess our needs and goals.

The IWR introduces an economic index that calculates the wealth of nations and provides a more comprehensive picture of a country's development and well-being than other macroeconomic indicators like GDP. The report provides policymakers with an initial analysis toward a broader and more comprehensive way of measuring progress by looking at the full suite of capital. This report is the first attempt to apply these metrics at a national level for 20 countries around the world.

"Our GDP is predicted to go up because of the Deepwater Horizon Oil Spill in the Gulf of Mexico," says Heather Tallis, a biology research associate at Stanford and lead scientist at the Natural Capital Project. "Do we really think the spill made the United States better off? I don't think so."

Tallis is the lead author of an IWR chapter, Inclusive wealth accounting for regulating ecosystem services. The chapter illustrates how we can start to do national-scale accounting of ecosystem services, even in developing countries with poor data.

Using InVEST (Integrated Valuation of Environmental Services and Tradeoffs), a free and open-source software suite developed by the Natural Capital Project to map and value environmental goods and services, the authors demonstrate how ecosystem services such as drinking water quality and carbon sequestration can be incorporated into inclusive wealth accounting. The approach is demonstrated in Ecuador and Colombia, where the World Bank Wealth Accounting and Valuation of Ecosystem Services program is interested in advancing the cause of inclusive wealth reporting.


'/>"/>
Contact: Heather Tallis
htallis@stanford.edu
408-693-4555
Stanford University
Source:Eurekalert

Related biology news :

1. President, CEO Leppävuori, VTT: Finland should create a national bioeconomy strategy
2. Reproductive health providers should discuss environmental exposure risks with patients
3. Should we play hide-and-go-seek with our childrens vegetables?
4. Report addresses challenges in implementing new diagnostic tests where they are needed most
5. Kessler Foundation implements Ekso Bionics first commercial robotic exoskeleton
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/16/2017)... , May 16, 2017  Veratad Technologies, LLC ... of online age and identity verification solutions, announced today ... Identity Conference 2017, May 15 thru May 17, 2017, ... Building and International Trade Center. Identity ... globe and in today,s quickly evolving digital world, defining ...
(Date:4/24/2017)... 2017 Janice Kephart , former ... Strategy Partners, LLP (IdSP) , today issues the ... Trump,s March 6, 2017 Executive Order: Protecting ... can be instilled with greater confidence, enabling the ... refugee applications are suspended by until at least ...
(Date:4/17/2017)... MELBOURNE, Florida , April 17, 2017 ... security technology company, announces the filing of its 2016 Annual Report ... Securities and Exchange Commission. ... Report on Form 10-K is available in the Investor Relations section ... well as on the SEC,s website at http://www.sec.gov . ...
Breaking Biology News(10 mins):
(Date:10/11/2017)... ... October 11, 2017 , ... ... implantation and pregnancy rates in frozen and fresh in vitro fertilization (IVF) ... and maternal age to IVF success. , After comparing the results from the ...
(Date:10/10/2017)... ... 10, 2017 , ... San Diego-based team building and cooking events company, Lajollacooks4u, ... The bold new look is part of a transformation to increase awareness, appeal ... growth period. , It will also expand its service offering from its signature gourmet ...
(Date:10/10/2017)... Philadelphia, PA (PRWEB) , ... October 10, 2017 ... ... University City Science Center’s FirstHand program has won a US2020 STEM Mentoring Award. ... accept the award for Excellence in Volunteer Experience from US2020. , US2020’s mission ...
(Date:10/10/2017)... -- International research firm Parks Associates announced today that ... TMA 2017 Annual Meeting , October 11 in Scottsdale, Arizona ... market and how smart safety and security products impact the competitive landscape. ... Parks Associates: Smart Home Devices: Main Purchase ... "The residential security market has experienced continued growth, ...
Breaking Biology Technology: