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Accounting for nature in euro area economic activity

Author

Listed:
  • Cardoso, Mariana Martins
  • Parker, Miles

Abstract

The role of nature in economic activity is insufficiently incorporated in economic statistics. While economic growth in Europe in recent decades has been lower than in some other regions, it has been achieved alongside a reduction in pollution, and once these benefits have been accounted for, this growth appears more favourable. In 2019 the estimated value of ecosystem services in the EU amounted to over €234 billion. However, understanding how nature loss may affect future output requires more than just calculating the monetary value of ecosystem services JEL Classification: D24, E01, Q57

Suggested Citation

  • Cardoso, Mariana Martins & Parker, Miles, 2024. "Accounting for nature in euro area economic activity," Economic Bulletin Boxes, European Central Bank, vol. 6.
    • Handle: RePEc:ecb:ecbbox:2024:0006:2
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    File URL: https://www.ecb.europa.eu//press/economic-bulletin/focus/2024/html/ecb.ebbox202406_02~48b71b4ada.en.html
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    More about this item

    Keywords

    ecosystem services; Natural capital;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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