To the G7: Invest in nature for a green economic recovery
A joint statement to the G7 meeting from the Economics For Nature initiative
Recovery plans are failing to recognise that all economic activity is dependent on nature. Out of 40 recovery plans analysed, only a handful have recognised the role that natural capital can play in building a more resilient economy post COVID-19.
By investing in nature and undertaking structural policy change, governments can create a safe space for economies and communities to flourish. New evidence shows that by investing in nature to achieve the Sustainable Development Goals, humanity stands to gain an estimated $40-50 trillion in value to the economy and human well-being.
The good news is that the foundations for more system-wide action are already in place. For example, the UN’s landmark decision to recognise the contribution of nature when measuring economic prosperity and human wellbeing.
We are also heartened by the progress being made by some countries around the world.
We applaud the G7 Environment and Finance ministers Communiques recognising that investing in nature is the pathway for achieving inclusive green economies. We urge governments to put those words into action by:
Embedding the multiple values of nature into economic decisions
Changing economic incentives to reward nature positive outcomes
Prioritising multi-stakeholder policy processes
“ As we emerge from the crisis of COVID-19, we simply cannot ignore the unfolding crises of climate and biodiversity loss. Nature-based green recovery is the only sensible choice to restore hope and prosperity for all. Ultimately, the history of this moment will be written by our children. Our green recovery must secure their future; our politicians must either be bold, or move out of the way.”
Economics for Nature (E4N) is a global partnership of business, civil society and international policy institutions intent on system-wide change to restore nature.
Led by four global alliances, the Green Economy Coalition (GEC), the Green Growth Knowledge Partnership (GGKP), the Capitals Coalition (CapsCo) and WWF France, our mission is to put natural capital at the heart of our economies.
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