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Measuring and Using Natural Capital Data

  • Calendar March 5th, 2018
  • Time 15:00

This text was taken from the Measuring and Using Natural Capital Data

“There is a growing consensus that decision making could be improved by greater attention to the “missing capitals”. Traditionally, economic statistics have majored on physical capital, with less attention to other forms of capital such as intangibles, accumulated human skills and know-how, or the capital represented by the nature. The last is the so-called natural capital.

This important seminar discusses the challenges and issues concerned with measuring natural capital. It covers not just renewable and non-renewable natural resources but also measuring the value of the main ecosystems – such as food, water, air filtration and recreation – from which we all benefit. The Office for National Statistics (ONS) will present the most recent results from a work programme begun in 2011 to produce natural capital accounts which will articulate fully with the National Accounts. This work has been carried out in cooperation with the Department of the Environment, Food and Rural Affairs (Defra), the Natural Capital Committee and a wide range of other experts. Miranda Winram (Forestry Commission) will discuss the work being taken forward in the specific context of woodland.

Data and other information is of most value when it is helping to support decision making. Nick Barter (Defra) will speak about the use that Defra is making of natural capital statistics to underpin its 25 Year Environment Plan and other policymaking.

This seminar is the latest in a series organised jointly by the Royal Statistical Society (RSS), the Royal Economic Society (RES), ONS and the Society of Professional Economists. It is part of a wider effort to ensure that UK economic statistics keep pace with the changing shape of modern economies and societies, and continue to meet the needs of users.

Everyone interested in natural capital is welcome to attend this free event. However, if the level of demand exceeds the number of available spaces, the organisers reserve the right to prioritise ONS’s invited guests and members of the three societies which have also contributed to this seminar’s organization – namely the Royal Statistical Society (RSS), the Royal Economic Society (RES) and the Society of Professional Economists (SPE).

Read on and register here.

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