GreenMAR researchers published in Nature Climate Change
Climate change is often described as the greatest environmental challenge of our time. In addition, a changing climate can reallocate natural capital, change the value of all forms of capital and lead to mass redistribution of wealth, state several scientists in a new paper.
The paper, Wealth reallocation and sustainability under climate change, explains how the inclusive wealth framework provides a means to measure shifts in the amounts and distribution of wealth induced by climate change. Biophysical effects on prices, pre-existing institutions and socio-ecological changes related to shifts in climate cause wealth to change in ways not correlated with biophysical changes. This implies that sustainable development in the face of climate change requires a coherent approach that integrates biophysical and social measurement.
- As soon as we are able to make such calculations, it will be easier for many people who do not care so much about climate change on a daily basis - but who cares about the economy - to take account of climate change. We believe that it is very useful to have economic indicators that can be used for this, explains Assistant Professor Malin Pinsky, at Rutgers School of Environmental and Biological Sciences.
The NordForsk-funded project, GreenMAR (Green Growth based on Marine Resources: Ecological and socio-economic constraints) is studying one of the fundamental challenges associated with green growth: How to use our renewable natural resources more efficiently while ensuring that the ecosystems retain their functionality. GreenMAR is organised with four Nordic nodes and partners in Europe and the USA.
Text: Tor Martin Nilsen
Photo of Malin Pinsky: Shonda Foster