On the past Convention on Biological Diversity the World bank came up with a new concept: the Global Partnership for Ecosystems, Ecosystem Services Valuation and Wealth Accounting. It’s a concept that makes it possible for countries to bring the advantage of ecosystems such as forests or coral reefs into their accounting system.
The reactions on this topic were very positive. The creation of the Global Partnership opens new perspectives to improve already existing concepts such as The Gross Domestic Product. Those existing systems nowadays don’t take the value of ecosystems in account. And to me, that's a shame.
The improvement however would add that value to those measurements. So it won't be necessary to replace them. Because the GDP in its current form is a very good base to start with. It will also affect the further evolution of accounting methods. If the Global Partnership is successful, it’ll have a major influence on corporate sustainability reporting. Because in the future, in order to get investors, companies will be required to add a sort of ecologically responsible accounting form in the system the normally use.
The improvement however would add that value to those measurements. So it won't be necessary to replace them. Because the GDP in its current form is a very good base to start with. It will also affect the further evolution of accounting methods. If the Global Partnership is successful, it’ll have a major influence on corporate sustainability reporting. Because in the future, in order to get investors, companies will be required to add a sort of ecologically responsible accounting form in the system the normally use.
Brecht Rutsaert
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