To deliver sustained growth and wellbeing, we need to value natural capital, recognize the human hand in climate change and take preventive action against climate-related calamities.
Between 1997 and 2011, the global value of ecosystem services declined by up to US$20 trillion per year as a result of changing land use. Some latest research shows that, in the Asia-Pacific region, this downward trend is likely to continue unless there are significant policy changes.
Shri Narendra Modi said there is a need to consider tigers as India's “natural capital” and to define conservation as a means to achieve development, rather than considering it to be anti-growth.
A blog by Kevin Mumford, an associate professor of Economics at Purdue University, discusses how measuring national wealth can serve as a complement to GDP.
World Bank Managing Director and Chief Operating Officer, Sri Mulyani Indrawati, writes in this blog that economic growth needs to be inclusive and sustainable, include access to energy, responsible resource management, and good governance.