What price the environment?
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The document discusses different perspectives on economic growth and the environment from two chapters. It also discusses using the R-ISEW (Regional Index of Sustainable Economic Welfare) to put a monetary value on the environment and measure economic well-being beyond GDP in the West Midlands region from 1994 to 2006. The R-ISEW is one of six indicators used to measure performance of the region's economic strategy.
What price the environment?
- 1. What price the environment? John Walker Senior Research Analyst West Midlands Regional Observatory
- 2. Fit for the future Two chapters two views Very different perspectives Challenging ideas
- 3. How to make our economy grow… “ Many of these anti-growth feelings are wrapped up in the idea of the green new deal, which seeks that progress and development be restricted to areas that can be proven to do no harm to the planet” “ Any threat to the environment or indeed any other challenge we face, is best dealt with by encouraging scientific and economic development on a broad front” “ Even on the terms of alternative energy itself, encouraging economic growth offers the best way forward.”
- 4. Sustainability & Recovery: digging the West Midlands out of recession “… a deeper and broader idea of sustainability than just carbon reduction can hold the key to a surer and better kind of recovery.” “ Nothing is more fundamental to human wellbeing than food.” “ The crash now gives us both the space and the motivation to rethink what progress and prosperity should really be.”
- 5. Protecting the environment Should we put a value on the environment? Competing on a level playing field Allow a business decision to be made Comparing like to like
- 6. How to do it? Monatisation? What methods exist? R-ISEW
- 7. What is the R-ISEW? Measures the portion of economic activity which delivers genuine increases in our quality of life; Monetarised indicator of economic well-being and quality of life; Measuring success in achieving sustainable economic growth; Chosen as one of the six headline indicators to measure the performance of the West Midlands Economic Strategy (WMES);
- 8. West Midlands R-ISEW and GVA per capita 1994-2006 Source: ONS regional accounts, ISEW
- 9. Contacts West Midlands Regional Observatory 2009 John Walker t: 0121 202 3246 e: john.walker@wmro.org website: www.wmro.org blog: http://wmro.wordpress.com Level 3, Millennium Point, Curzon Street, Birmingham, B4 7XG.