A landmark review has called for transformational change in our economic approach to nature. The long-awaited review by Professor Sir Partha Dasgupta, of the University of Cambridge, says prosperity has come at a “devastating” cost to the natural world.
The report proposes recognising nature as an asset and reconsidering our measures of economic prosperity.
It is expected to set the agenda on government policy going forward.
At its heart is the idea that sustainable economic growth requires a different measure than Gross Domestic Product.
Dasgupta said, “Truly sustainable economic growth and development means recognising that our long-term prosperity relies on rebalancing our demand of nature’s goods and services with its capacity to supply them. It also means accounting fully for the impact of our interactions with nature across all levels of society.”
Covid-19 has shown us what can happen when we don’t do this, he added.