Arctic Freshwater Natural Capital in the Nordic Countries

image of Arctic Freshwater Natural Capital in the Nordic Countries

Current indicators of economic growth (e.g., GDP) do not adequately consider sustainability, while environmental indicators alone fail to acknowledge the economic needs of a society. Natural Capital Accounting (NCA) can be the tool that fills the gap separating current economic and environmental indicators. Development of NCA has progressed considerably and is being widely deployed in the Nordic countries, but development and deployment remain uneven. This report provides background on NCA and its associated accounting frameworks, demonstrates the applicability of NCA for sustainably utilizing freshwater resources in the Nordic Arctic and provides recommendations for maximizing the value of environmental accounting as an economic, environmental, and sustainable development tool.



Economic and environmental impact analyses using ecosystem accounting

Typically, Natural Capital Accounting (NCA) is used to record the current status and past development of the economy or environment. In this chapter, we show how the results from a forward-looking policy/scenario impact analysis can be presented in the NCA framework.


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