Top economists show that the decline of nature poses severe threats to continued national and global prosperity
New research from a team of Oxford economists, launched at the World Forum on Natural Capital in Edinburgh, has shown that Ministries of Finance and Treasuries are often blind to how dependent economies are on nature, which is declining at a dangerous rate.
As a result, businesses and politicians are failing to register the systemic risk building up as the natural world fails.
Professor Cameron Hepburn, who led the research at the University of Oxford’s Institute for New Economic Thinking at the Oxford Martin School, says that flawed economic and political institutions are to blame. “Much of the value that economies create is built upon a natural foundation – the air, water, food, energy and raw materials that the planet provides.
Without nature, no other value is possible.”
It’s called natural capital, and it’s the…
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