31 Jul '16, 10am

Measuring income alone fails to capture natural capital wealth:

By Pushpam Kumar, Chief, Ecosystem Services Economics Unit, UNEP Nairobi, 29 July 2016: With the endorsement of a resolution on Sustainable Management of Natural Capital for Sustainable Development and Poverty Reduction during the recently held United Nations Environment Assembly in Nairobi, Kenya, a new era of correcting the compass to measure sustainable human well-being has begun. Conventional income (the market value of output during a fixed period in a given region) has been treated as a proxy for human well-being for too long. The limitations of the system of national accounts – where pollution abatement activities show up as income and biodiversity loss goes unnoticed – are becoming better understood. From an environmental sustainability perspective, traditional income measurement is defective because it only partially treats natural capital stock in its coverage. W...

Full article: http://unep.org/stories/Ecosystems/Natural-Capital-Wealth...

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