Natural Capital in a Nordic context

Status and Challenges in the Decade of Biodiversity

image of Natural Capital in a Nordic context

The report reviews different international approaches for natural capital accounting. The five approaches reviewed are attempts to help create an improved evidence base on the links between biodiversity and ecosystems on the one hand and economic and human wellbeing on the other in view of better informing decision-making in a variety of contexts. The strengths and weaknesses of the approaches are evaluated in the light of the policy goals, institutions and conditions in the Nordic countries. The analysis has been carried out during the period September 2012 – January 2013 by Gaia Consulting Oy and the Institute of European Environmental Policy. The project was commissioned by the Nordic Council of Ministers.



Five approaches to account for natural capital and biodiversity

The five approaches presented below, chosen together with the project’s steering group, are thought to be broadly representative of the different angles from which an improvement of natural capital accounting can be approached. While they have not all reached full maturity yet, they should in principle all generate information that can be used to improve the understanding of the links between the economy and human well-being on the one hand and biodiversity and ecosystems on the other hand, thus allowing for a better consideration of such links in decision-making.


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