A new white paper prepared by the Nature-Based Economy Working Group of Task Force III of the European Commission proposes a new approach to the valuation of natural capital and its integration into the economic and financial systems. ICLEI Europe contributed to the paper as lead author of Section 2 "Nature-Based Solutions in the Nature-based Economy" and Section 4 “Introducing a Global Perspective”.

The paper “From Nature-based solutions to the nature-based economy” is a synthesis of a European Commission Expert Publication to be launched at the European Business Summit in November 2021. The recommendations of the White Paper provide a basis for dialogue with policy makers, at all levels of government and across all fields of policy implementation, and with wider stakeholders in business, society and the innovation ecosystem on the changes needed to shift towards a Nature-based Economy.

A public consultation on the white paper is open until 10 September. Responses can be submitted online via NetworkNature or at the IUCN World Conservation Congress, where experts will introduce parts of the paper and collect feedback from the audience for the ongoing consultation. ICLEI's contribution to the process was informed by the Connecting Nature and CLEVER Cities projects - two European funded Nature-Based Solutions projects ICLEI is working on.

For more information, and to register for in-person or for virtual participation at the event, click here.