Counting Nature In
It is a well-known fact that GDP, while a powerful tool used by people the world, has limitations to it. The measure fails at counting facets like inequality, environmental stability, sustainability of an economy etc.
Researchers at the Bennett Institute at the University of Cambridge collaborated with researchers around the globe to create the SEEA — System of Environmental-Economic Accounting. Boasting names such Professor Sir Parth Dasgupta and Professor Diane Coyle the framework created uses economic and environmental data and helps us understand the interrelationships between the environment and the economy.
The SEEA will allow us to broaden our definitions of wealth and help us work within a framework that incorporates natural, human, social, and physical features of nation states.
This could pave the way for a better accounting system to be put in use. This can be applied to sustainable responsible investing and can aid in making smart and ethical ESG focused decisions.
Read more at https://www.bennettinstitute.cam.ac.uk/news/cambridge-economists-collaborate-un-make-nature-co/
