From COVID-19 to Green Recovery with natural capital accounting

Michael Vardon; Paul Lucas; Steve Bass; Matthew Agarwala; Andrea M. Bassi; Diane Coyle; Anthony Dvarskas; Catherine A. Farrell; Oliver Greenfield; Steven King; Martin Lok; Carl Obst; Brian O’Callaghan; Rosimeiry Portela; Juha Siikamäki

doi:10.1007/s13280-022-01757-5

From COVID-19 to Green Recovery with natural capital accounting

Michael Vardon
, Paul Lucas
, Steve Bass
, Matthew Agarwala
, Andrea M. Bassi
, Diane Coyle
, Anthony Dvarskas
, Catherine A. Farrell
, Oliver Greenfield
, Steven King
, Martin Lok
, Carl Obst
, Brian O’Callaghan
, Rosimeiry Portela
, Juha Siikamäki

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

The COVID-19 pandemic and related social and economic emergencies induced massive public spending and increased global debt. Economic recovery is now an opportunity to rebuild natural capital alongside financial, physical, social and human capital, for long-term societal benefit. Yet, current decision-making is dominated by economic imperatives and information systems that do not consider society’s dependence on natural capital and the ecosystem services it provides. New international standards for natural capital accounting (NCA) are now available to integrate environmental information into government decision-making. By revealing the effects of policies that influence natural capital, NCA supports identification, implementation and monitoring of Green Recovery pathways, including where environment and economy are most positively interlinked.

Original language	English
Pages (from-to)	15-29
Number of pages	15
Journal	Ambio
Volume	52
Issue number	1
DOIs	https://doi.org/10.1007/s13280-022-01757-5
Publication status	Published - Jan 2023

Bibliographical note

Publisher Copyright:
© 2022, The Author(s).

Funding

This paper builds on the inputs and discussions at the 5th Policy Forum on Natural Capital Accounting for Better Decision Making hosted by the World Bank, United Nations and PBL Netherlands Environment Assessment Agency in September 2022.

Funders
Planbureau voor de Leefomgeving

Keywords

COVID-19
Green recovery
Natural capital accounting
Sustainable development
System of Environmental-Economic Accounting (SEEA)

Access to Document

10.1007/s13280-022-01757-5Licence: CC BY

s13280-022-01757-5Final published version, 1.6 MBLicence: CC BY

Cite this

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AU - Agarwala, Matthew

AU - Bassi, Andrea M.

AU - Coyle, Diane

AU - Dvarskas, Anthony

AU - Farrell, Catherine A.

AU - Greenfield, Oliver

AU - King, Steven

AU - Lok, Martin

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KW - Sustainable development

KW - System of Environmental-Economic Accounting (SEEA)

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From COVID-19 to Green Recovery with natural capital accounting

Abstract

Bibliographical note

Funding

Keywords

Access to Document

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