scoop.co.nz 12 Mar, 2021 08:15 am

Countries Adopt Landmark Framework That Transforms ‘Value’ Of Nature

Countries Adopt Landmark Framework That Transforms ‘Value’ Of Nature
UN Member States agreed a new statistical framework on Wednesday that takes into account the contributions of nature, when measuring economic prosperity and human well-being. Adopted by nations gathered at the UN Statistical Commission – the ...

UN Member States agreed a new statistical framework on Wednesday that takes into account the contributions of nature, when measuring economic prosperity and human well-being.Adopted by nations gathered at the UN Statistical Commission – the Organization’s highest decision making body for international statistics standards – the new economic and environmental statistical framework is expected to “reshape” decisions and policies for sustainable development and climate action.As governments get ready to agree and implement a framework that will re-craft the relationship with nature, the statistical framework will provide “an impetus for an accurate accounting of the value of biodiversity”, Elizabeth Maruma Mrema, Executive Secretary of the Convention on Biological Diversity, added.“This is a historic step forward towards transforming how we view and value nature”, UN Secretary-General António Guterres said.

“By highlighting the contribution of nature, we now have a tool that allows us to properly view and value nature.In the past, we have always measured our progress in terms of the market value paid for the goods and services we produce and consume, said Elliot Harris, UN Chief Economist, explaining that nature’s value was never taken into account.

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