Arctic Freshwater Natural Capital in the Nordic Countries

Download or read book Arctic Freshwater Natural Capital in the Nordic Countries written by Soile Oinonen and published by Nordic Council of Ministers. This book was released on 2019-01-31 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current indicators of economic growth (e.g., GDP) do not adequately consider sustainability, while environmental indicators alone fail to acknowledge the economic needs of a society. Natural Capital Accounting (NCA) can be the tool that fills the gap separating current economic and environmental indicators. Development of NCA has progressed considerably and is being widely deployed in the Nordic countries, but development and deployment remain uneven. This report provides background on NCA and its associated accounting frameworks, demonstrates the applicability of NCA for sustainably utilizing freshwater resources in the Nordic Arctic and provides recommendations for maximizing the value of environmental accounting as an economic, environmental, and sustainable development tool.