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GEO-6 Regional Assessment for North America


Figure 4.5.1: Example of an ecosystem valuation framework Total economic value Use value Use value D i r e c t u s e


irect benet from use of primar goods


Option


Option for future use direct or indirect of goods and services


ndirect use


enets from secondar goods and services including non


comsumptive use For example:


Provisioning services  ndustrial inputs suc as timber  ood fodder and oter forest products  edicinal products  res water


Cultural services  ecreation  ourism  Education and science


Source: Kumar 2010


accurately depict the health and welfare of their communities, and are not, on their own, the best way to make budgetary and policy decisions. Thus, several US States have begun to use the Genuine Progress Indicator (GPI) to complement their Gross State Products. The policy application of the GPI is to gauge whether economic growth effectively improves well- being (Genuine Progress Indicator). For example, Maryland has seen its economic component increase dramatically, while social and environmental indicators have remained flat or declined (Daly and Posner 2011; McElwee 2014).


Inclusive wealth approach This approach was developed by UNEP as part of the broader


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coordination with other efforts within the beyond-GDP domain such as the OECD, French government efforts and World Bank initiatives. The framework sets out to measure and track four categories of assets: produced capital, natural capital, human capital, and social capital. Taken together, these make up inclusive wealth. The focus of this approach is to develop a comprehensive accounting system to look in detail not only on produced capital that is often captured in the GDP, but also look at enabling factors such as human and natural capital. This approach allows identifying unsustainable trends such as increased produced capital and declining natural capital or low human capital and increasing produced capital indicating that economic growth occurs by also depleting natural resources and/or by low-skilled jobs


For example:


Provisioning services  res water  edicinal products


egulating serces  arbon storage  ir ualit and water purication  Erosion control  lood prevention


For example:


Provisioning services  res water


egulating serces  arbon storage  ir ualit


Cultural services  Scener and landscape  ecreation  Education and science


B e q u e s t


alue for future generations


Non-use value Eistence alue of


eistence witout use or consumption


For example: Cultural services  Scener and landscape  ommunit identit and integrit


 Spiritual value  ildlife and biodiversit


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