Economics for Nature
We use nature because it is valuable - but we lose it because it is free. 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.
Economics for Nature (E4N) is a six year partnership between the Green Economy Coalition, the Green Growth Knowledge Partnership, WWF France and the Capitals Coalition, with a shared mission to join the dots between natural capital and green economy, driving better economic decisions that restore nature.
Increasingly, governments and businesses are starting to understand the crucial value of nature as our global life support system. New approaches to properly valuing natural capital are emerging. And ambitious new policies on green economy, inclusivity, and conservation are being launched around the world.
But there is a risk that these emerging agendas of natural capital and green economy start to diverge down different pathways, leading to dysfunctional decision-making. The E4N programme exists to bring together communities of practice to forge shared institutions, collaborative policy approaches, and joined-up datasets and tools.
Achievements & assets so far
United natural capital and green economy within institutional agendas: Principles of a Green Economy, including one on natural capital, signed by key global institutions; green economy and green growth planning frameworks showing stronger integration of nature - for example, the African Development Bank partnership to mainstream natural capital into development finance; and the OECD Green Growth and Sustainable Development Forum focused on natural capital resilience, risk and COVID-19.
Created new networks and connected existing ones: Organised and co-hosted both the Africa Forum on Green Economy - connecting NC/GE practitioners for the first time - and the World Forum on Natural Capital - connecting private sector and policy community; developed a network of national and regional CSO hubs and focal points in 8 countries and a Natural Capital Expert Working Group.
Piloted research and approaches: Myanmar has been piloting GGGI’s 3Returns Framework, which now uses the capitals approach; the Brazilian Amazon Green Economy Hub is starting to scale up its multi-stakeholder model to ensure that trees have more value standing than cut; new research, tools and platforms like the Green Economy Tracker.
Filled knowledge gaps and connected tools: Our COVID-19 ten point policy response, including on natural capital, signed by global green growth institutions; new online events bringing together communities on key issues e.g. COVID Green Recovery series; new research eg. ‘China, Eco Civilisation and the Green Economy’; and new curated knowledge, e.g. ‘Natural Capital Platforms and Tools’; ‘Recognising Natural Capital in Policy Frameworks for Green Growth’.