In a move that may reshape decision and policy-making towards sustainable development, the United Nations adopted a new framework today that includes the contributions of nature when measuring economic prosperity and human well-being.
The new framework — the System of Environmental-Economic Accounting—Ecosystem Accounting (SEEA EA) — was adopted by the UN Statistical Commission and marks a major step forward that goes beyond the commonly used statistic of gross domestic product (GDP) that has dominated economic reporting since the end of World War II. This measure would ensure that natural capital—forests, wetlands and other ecosystems—are recognized in economic reporting. [Read more…] about UN adopts landmark framework to integrate natural capital in economic reporting