Bhutan’s ecosystem and green wealth is worth nu 700bn a year

As the UK calls on countries to start green accounting, putting value to nature, biodiversity and ecosystems, Sonam Pelden writing recently in Bhutan Business recently gives a fascinating insight into the country’s Gross National Happiness accounting system. Based not only on the market economy but also natural, social, cultural and human wealth, demonstration perhaps that a triple bottom line economy can work at national levels. A demonstration also then of NSR National Social Responsibility?

A new study on Initial Estimate of Value of Ecosystem Services in Bhutan revealed that the country’s ecosystem is worth more than Nu 700bn a year, much higher than the Gross Domestic Product (GDP) of Nu 72.3bn a year.

The staggering value of the ecosystem in Bhutan was arrived at to come up with a new national accounting system apart from the GDP. The accounting system, based on Gross National Happiness (GNH), would not only count what market economy produces but also consider natural, social, cultural and human wealth. Benefits are in terms of clean air, healthy soil, recreation and other values.

Recognising the value and importance of forests, not just as market value but as environment and social value is a key component. Something we here in the UK need to heed …

Bhutan’s constitution mandates the country to preserve a minimum of 60% forest coverage for all time to come. Today, Bhutan has total forest coverage of 74.5%.

Sonam and Business Bhutan are on twitter at @sonampelden and @business_bhutan

Advertisements
Aside | This entry was posted in comment and tagged , , , , , , . Bookmark the permalink.

One Response to Bhutan’s ecosystem and green wealth is worth nu 700bn a year

  1. Pingback: Bhutan’s ecosystem and green wealth is worth nu 700bn a year - isite - External Blogs - Construction Blogs & Opinion - ConstructionSpace from CareerStructure.com

Please add your comments:

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s