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From COVID-19 to Green Recovery with natural capital accounting.

Accepted version
Peer-reviewed

Type

Article

Change log

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.

Description

Keywords

COVID-19, Green recovery, Natural capital accounting, Sustainable development, System of Environmental-Economic Accounting (SEEA), Humans, Ecosystem, Conservation of Natural Resources, COVID-19, Pandemics

Journal Title

Ambio

Conference Name

Journal ISSN

0044-7447
1654-7209

Volume Title

Publisher

Springer Science and Business Media LLC