Economics for Nature
As long as our economic and business decisions remain blind to nature, we all risk a future of fields of wind turbines turning on a dead planet.
Bringing together businesses, civil society networks, policy makers and international institutions, we are on a mission to ensure that economic decisions account for nature.
Nature is our global life support system. Our societies and our economies cannot function without it. But nature is disappearing at an alarming rate - putting our shared future at risk.
While governments and businesses have made progress towards accounting for carbon over the last decade, most economic decisions still do not account for biodiversity and ecosystems. This means that our economies are blind to their dependence on nature. Only when green economy plans, policies and investment properly value the natural world can true sustainability be achieved.
To connect the agenda around natural capital to that of green economies, driving better economic decisions that restore nature.
System-wide change requires action across different stakeholder groups. E4N brings together a unique partnership of co-convenors representing business, civil society, and policy institutions. Together, we are focused on 4 strategies:
- Building knowledge, tools and methods
- Connecting policy makers, institutions, civil society and business communities.
- Creating new evidence and piloting approaches
- Advocating together towards a ‘new normal’
Our Progress so far
Joining the dots between natural capital and green economy
Key global policy organisations have signed up to our Principles of a Green Economy - including on nature - and global institutions are starting to put natural capital on the agenda for the first time. For example, the African Development Bank has committed to mainstreaming natural capital into development finance, and the OECD’s latest Green Growth Forum 2020 was focused on the role of natural capital.
Supporting national leadership
The E4N partnership has supported governments to embed natural capital approaches into their national strategies in France, Uganda, as well as via European legislation. It has also supported governments to develop the policy case for natural capital, as well as how to affect a green recovery from COVID. Together with civil society organisations around the world, a new tool, the Green Economy Tracker, enables citizens to hold their governments to account on nature based economic reform.
Creating new networks and connecting existing ones:
New networks connecting business, policy and civil society have come together for the first time at events such as the Africa Forum on Green Economy and World Forum on Natural Capital. We have incubated a new policy network, the Natural Capital Expert Working Group, and supported the Business for Nature Coalition to lobby for more ambitious policy.
Piloted new approaches:
The project has built up a test-bed of different approaches for mainstreaming natural capital at country levels in India, Kyrgyzstan, Myanmar and Rwanda, while the newly launched Brazilian Amazon Green Economy Hub is expanding a multi-stakeholder process for ensuring that trees have more value standing than cut.
Filled knowledge gaps and connected tools:
The E4N partnership has mapped tools and platforms to help policy makers make the best use of existing knowledge (see for example ‘Natural Capital Platforms and Tools’; ‘Recognising Natural Capital in Policy Frameworks for Green Growth’). It has led new thought leadership on issues such as Chinese leadership and the substitutability of natural capital.