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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.

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Synthesis, roadmap and recommendations

The policies and targets related to biodiversity and monitoring of biodiversity are very similar in the Nordic countries. All countries have incorporated or have the ambition to incorporate the biodiversity and biodiversity accounting related Aichi targets in national policies and to set related targets in the NBSAPs that are currently being revised. All have an interest in developing ecosystems accounting and to link this to the economy and to develop methods for valuation of natural capital.

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