The Centre for Ganga River Basin Management and Studies (cGanga), a think-tank and an innovation agency set up under the aegis of the National Mission for Clean Ganga and Ministry of Jal Shakti, Government of India, and Bharatia organised a roundtable on the subject of Economics of Natural Capital.
Economics of Natural Capital
The importance of nature and biodiversity has been proven beyond any doubt to be most critical to the existence of our planet. The following excerpts from “The Economics of Biodiversity - Dasgupta Review” on the same subject clearly point out the need for immediate action:
Our economies, livelihoods and well-being all depend on our most precious asset: Nature
We have collectively failed to engage with Nature sustainably, to the extent that our demands far exceed its capacity to supply us with goods and services we all rely on.
Our unsustainable engagement with Nature is endangering the prosperity of current and future generations.
At the heart of the problem lies deep-rooted, widespread institutional failure.
The solution starts with understanding and accepting a simple truth: our economies are embedded within Nature, not external to it.
We need to change how we think, act and measure success: - Ensure that our demands on Nature do not exceed its supply, and that we increase Nature’s supply relative to its current level. - Change our measures of economic success to guide us on a more sustainable path. - Transform our institutions and systems – in particular our finance and education systems – to enable these changes and sustain them for future generations.
7. Transformative change is possible – we and our descendants deserve nothing less.
The following eminent persons provided their key inputs:
G. Asok Kumar, Director General National Mission for Clean Ganga
Erik Solheim, Sr. Advisor, World Resource Institute, (former) Minister for Environment and International Development, Norway and (former) Executive Director of UNEP, (former) Executive Chair, OECD Development Assistance Committee
Peter Seligmann, Chairperson – Conservation International and CEO, Nia Tero
Dr. Vinod Tare, Founding Head, cGanga
Mr. Sanmit Ahuja, Expert Member, cGanga
Mr. Subhash Kumar, former CMD, ONGC
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