The government should make the decision based on how bad this problem is versus what it costs to get rid of it. Investors in the main look at financial measures. Q: Looking back at the question, "Can we afford sustainability?" ... As the world approaches the target year 17.3. This update examines human capital outcomes in the region and the ways in which the pandemic is likely to affect them. International Futures model that forecasts a 32 percent Q: Professor Daily, do you as an ecologist define sustainability differently than the economists do? From the environment's perspective, it doesn't matter where the reductions come from — they just need to happen. But it's pretty dramatic to see how much is being invested there. Addressing the issue of sustainable resources in a nation that gets about 81% of its total energy from oil, coal, and natural gas is a formidable goal, but one that we must pursue vigorously. The definition of sustainable development has provided a big step forward. future of Chile's agriculture towards 2030, using But we need a much better understanding of these production functions, of how the aspects of these systems affect their ability to supply society with benefits. Recovery from the pandemic will thus require strong investment in education and health. They're still difficult negotiations, but… They envision a wealth transfer from the more developed parts of the country to the much more rural and impoverished parts of the country to achieve flood control, hydropower production efficiency, climate stabilization, and a range of other services. The SDG Health Price Tag, published today in The Lancet Global Health, estimates the costs and benefits of progressively expanding health services in order to reach 16 Sustainable Development Goal (SDG) health targets in 67 low- and middle-income countries that account for 75% of the world’s population. Daily: The work in the climate arena is inspiring a lot of careful investigation of how markets might work for a range of other services, like provision of water purification or regulation of water supply, flood control, coastal protection. But it's a revolutionary time in seeing how much investment is going into clarifying what's going on biophysically and relating that in economic terms to the consequences of different policy choices that governments and others in society are making. And that ability to measure just how harmful particular emissions are is going to be very useful over time, in terms of trying to design more efficient regulations. The advantages are so much that they are not exhaustive. So the point that is emerging here is about considering the other capital costs that are being incurred — whether degradation of the environment or of human capital. Q: Kevin Curtis, does this question inform what you do when you're looking at policy? For most of The definition of sustainable development has provided a big step forward. That's still very hard economics — hard politics, too — but you can then start doing it. Mendelsohn: I just mentioned that economists want to balance the costs and benefits of abatement, but, historically, all we knew about was costs. poverty rate for fragile states by 2030 given current Once you have a goal, once you've set the rules of the road, then there are lots of reasons to turn it over as much as you can to the marketplace to find the best solutions. ... Financing and cost evaluation. Kauffman: There are sustainability annual reports, there are metrics which companies can prepare which say something about their effect on the environment, or what they're doing with their employees, or what impact they're having on their suppliers. By following that through, you can link an actual emission to its final consequences to society and put a value on those final consequences, and then come back and put a value on the emission itself. People are recognizing several things. Discussion conducted and edited by Jonathan T.F. Curtis: Similarly, if and when we finally get a climate bill through the Senate to become the law of the land, we're going to have a fascinating experiment in implementing an economy-wide cap-and-trade system. And one of the major policies that came out of this was an agreement to establish what are called "ecosystem function conservation areas." This is where we need the government to interact with the economy and give us prices for things like pollution or the conservation of important resources that will reflect these public values that aren't going to be visible in the marketplace. And if you do that, just thinking about what those benefits are — whether it's the provision of commodities that we consume directly and have traditionally traded in markets, like food and timber, or whether it's things we're just now starting to develop more formal institutions around, like climate stability or purification of freshwater supplies or provision of flood control, or intermediate services like pollination of agricultural crops, which is critical to the production of about a third of the calories that people consume — if you start to parse those things out, then the key issue in asking whether we can afford sustainability gets down to how we value those things. Another problem with the disaggregated model is that corporations, as an example, do what investors tell them to do. a new international development goal of eradication of They're in a final round now of delineating exactly where these ecosystem function conservation areas will go, and there's a lot of work underway now to determine exactly how to implement that designation, because people live in all of these places. The ocean economy, which contributes upwards of $1.5 trillion in value added to the global economy, was particularly hard hit by the COVID-19 pandemic, with a projected loss of $1.9 billion for international shipping carriers alone. extreme poverty by 2030. Development along the coast is particularly vulnerable to hurricanes, nor’easters, and other kinds of severe weather. How feasible is that? First, let's define sustainable development. report and is further based on a series of background papers With the advent of the SDGs the agenda is much broader covering all aspects of water, water resource management, and irrigation and We know that many of the things we're talking about are going to eventually show up in financial costs, or in some kind of future liability, but if investors are not taking that into account today, then the market forces are not going to act or not going to impinge properly on corporate actors. And then what all of us need to do is engage in discussions and decision making around how to triage and how to pursue progress on all three. Then on the economic side, I think there's still enormous uncertainty about trying to evaluate the impact of those changes. Robert Mendelsohn: One thing that's going to be very interesting is coming up with a definition of what we mean by "sustainability." its agricultural innovation system. vision for agricultural innovation in Chile in 2030' One is that we're likely to lose about half of the other plants and animals with whom we share the planet in the current 100-year period. And then, with these production functions, we can project scenarios of change into the future, whether changes of policy and the ways that land and water resources are managed or changes in climate, and see how those scenarios of change will affect the production of ecosystem service benefits in both biophysical terms and in economic terms. Mendelsohn: I'd love to echo what Gretchen just said, because climate by itself might be the single biggest issue, but it's not the only issue in sustainability. There are multiple definitions, but the version I like best is one that says economic growth, environmental protection, and social justice are all important — and sustainable development is about doing all three. Now is an excellent time for it: education has long been critical for human welfare, but is even more so in a time of rapid economic change. Curtis: To build on my point earlier, if you get people around the table to agree to the concept of sustainable development, you can then have a much more rational conversation about measuring the costs that fall outside current measurements. Curtis: I think where it's headed is the government will probably not pick a price, nor do I think they should, but they will put a cap, and then indirectly set a price by picking some reduction goals. The paper considers alternative The TD Campus and Community Sustainability Initiative, also known as Sustain Coastal, is committed to transform Coastal Carolina University into an environmentally sustainable university through campus operations, student curriculum, engaging students through learning and outreach, and collaboration in the community through sustainable stewardship of resources. This study provides an assessment of the global costs of meeting the WASH-related targets of Goal #6. But some decisions have a lot more uncertainty around them than others. But how do we determine the right price to pay right now to ensure survival in the distant future? The development of a standard for coastal sustainability could follow a similar model. That's not considered crazy science. Poverty alleviation is a huge goal in all of this. Who is going to pay for the whole range of actions that we'd need to take? This toolbox was developed in partnership with Digital Coast, a product of the NOAA National Ocean Service Office for Coastal Management. and a consultation process that took place between December A dedicated goal for water has recently been endorsed by the United Nations General Assembly as part of the sustainable development goal (SDG) framework. Sustainable Development. At the same time, internationally comparable learning assessments show that skills in many middle-income countries lag far behind what those countries aspire to. Before that can happen, though, there have to be some political decisions made that take into account uncertainty, but are also political value judgments — for instance, that the body politic of the United States believes that the threat of climate change is real enough to put in a policy that caps carbon and reduces it over time. Coastal habitats such as mangroves and reefs can reduce wave heights by between 35% to 71% and can provide annual storm and flood protection benefits exceeding $65 billion for mangroves and $4 billion for reefs. And then at a very pragmatic and anthropocentric level, there is no Yellow Pages to other life forms. Mendelsohn: The problem is that a lot of the services that the environment gives us, we all share together. and a consultation process that took place between December you might all answer yes, but how costly will it be? Now is an excellent time for it: education has long been critical for human welfare, but is even more so in a time of rapid economic change. It would be nice to get rid of all pollution, but it turns out it's very expensive to eliminate it entirely. But these reports are the exception rather than the rule and so-called sustainability investing among public investors is a tiny percentage of the money under management. and a consultation process that took place between December long-term agricultural innovation strategy. The disease has already killed thousands of people, and some patients who survive will suffer long-term damage to their health. extreme poverty by 2030. There are a lot of tools now being created and there is a lot of investment in these tools to make it easier for the decision makers to make smart investments — to know what the return on investment would be of, say, conservation or restoration of ecosystems. of the Millennium Development Goals and passes into the new, As a result, because they're shared goods, they're not things the market itself can provide. Weisberg, Yale Insights is produced by the Yale School of Management. That's okay. An example is a software system that the Natural Capital Project has produced, called InVEST, which lets the user input data on natural capital — soil type, basic climate, elevation, and that kind of thing — and basic information on built capital and demand for services by human populations, and it then estimates what value is being produced today, in both biophysical and economic terms, by the landscape. parts of the sector are government departments where the developing world, the goal seems ambitious, yet vision for agricultural innovation in Chile in 2030' Third, promising interventions to improve ... Every year, the World Bank's World Development Report takes on a topic of central importance to global development. That's something that needs to occur for us to make many of the changes we need to make. of the Millennium Development Goals and passes into the new, Second, the learning crisis: Despite gains in education access, recent learning assessments show that many young people around the world, especially from poor families, are leaving school unequipped with even the most foundational skills they need for life. extreme poverty by 2030. Developers pass it on to property owners, who pass it on to tenants. But we need to start advancing these systems for a broader suite of natural capital and services, so that we can be more comprehensive and not single-problem oriented around the climate. Charging access fees to beaches is an effective way to finance the conservation of coastal resources (White and Cruz-Trinidad 1998). If we think about ecosystems as a type of natural capital, then the big question is what benefits society derives from that sort of living, natural capital — from land, freshwater systems, oceans, and so on. How feasible is that? “Reversing the reversal” will require responding effectively to COVID-19, conflict, and climate change while not losing focus on the challenges that most poor people continue to face most of the time. Emphasis is being laid on raising awareness for decision makers on the economic value of the ecosystem and need to approach development in a holistic manner. The official indicator list below includes all updates until the 51st session Statistical Commission in March 2020. achievable -- but what about the prospects for fragile To clarify the environmental issues and benefit sustainable development of the coastal zone, we conducted both retrospective and predictive assessments of the ecological cost caused by land reclamation on the northwest coast of Bohai Bay, China. And so some common language and some common metrics and some common tools are really being developed. You make a decision and then you try to implement it. I was with a group of investors recently in Washington, talking to people on the Hill, and one of my colleagues said, "We have a choice to invest in the United States or anywhere else in the world, and right now, because there's a lot less regulatory uncertainty, it looks more sensible to invest in India than in the United States." There's a lot of work going on now to advance this type of integrated approach. I don't think that would have happened 20 or 30 years ago. Q: Is there agreement on what the price of carbon should be, and what effects that will have? Chile and the World Bank to support the development of a The last half century has seen significant, and in many cases abrupt and irreversible, changes across the world’s coast lines. In Colombia, the government has just redone all of their resource licensing and mitigation requirements, and going way beyond pollution, they're looking at all aspects of value that we can analyze and quantify that come from natural capital assets in the country. Q: How much uncertainty is there in the science? Q: Is there something about this concept of sustainability that makes it easier for you to communicate to different constituencies? That all works fine, as long as one looks only at very narrow financial measures. Coastal development linked to human settlements, industry, aquaculture, and infrastructure can cause severe impacts on near shore ecosystems, particularly coral reefs. Guidance Manual for Smart, Safe Growth in the CNMI – 2018 View this publication. theirsustainability. economic and social development. Previous Poverty and Shared Prosperity Reports have conveyed the difficult message that the world is not on track to meet the global goal of reducing extreme poverty to 3 percent by 2030. The sector is in the process of repositioning itself toward the Sustainable Development Goals (SDGs). A beach nourishment program was set up resulting in an influx of development and infrastructure in the late 1970s. Under the Millennium Development Goals (MDGs) the international focus of the water sector was predominantly on increasing access to water supply and sanitation (WSS). Miami Beach was rejuvenated to such an extent that annual revenue from foreign tourists alone is $2.4 billion, compared to the $52 million cost of the 20-year nourishment project. poor ... As the world approaches the target year achievable -- but what about the prospects for fragile The COVID-19 pandemic has hit human capital directly in Europe and Central Asia, adversely affecting both education and health. Those are just two examples of many where the agreement Kevin was referencing has been made: Okay, we're going to try to harmonize production and conservation. The Coastal Aquaculture Planning Portal (CAPP) is a toolbox of coastal planning resources designed to assist coastal managers, planners, and industry with sustainable aquaculture development. Oceans contribute to poverty eradication by creating sustainable livelihoods and decent work. 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