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The British have priced in how much G7 tourism revenue has caused by nature

According to the UK’s Office for National Statistics (ONS) calculations, the natural environment contributed £ 17 billion, or nearly £ 7 trillion, to tourism in 2019.

Within this, an increase of 30 per cent was estimated for England between 2019 and 2011 and a decrease of 55 and 37 per cent in Scotland and Wales. No estimate data were provided for Northern Ireland. According to the statistical office’s calculations, the environment contributes on average 8 percent to tourism expenditures in some way, mainly through expenditures related to sightseeing, running and cycling – writes Bloomberg.

These are the first figures for tourism in a major project to create a “natural capital balance” in Britain. Prime Minister Boris Johnson, host of this year’s UN climate talks, has made the effort a central component of his political agenda. The statistical office has already started the work necessary to compile the balance sheets of some parts of the economy.

Recently, for example, it was estimated that the UK sea floor would create greater economic value for the country by absorbing carbon dioxide by extracting oil and natural gas beneath it.

a Bloomberg According to the article, the Census Bureau estimated the value of these marine areas at £ 211 billion. The Office for National Statistics estimates that seaweed, sand, and salt marshes on the sea floor absorb at least 10.5 million tons of carbon dioxide annually, which translates into an economic value of £ 57.5 billion per year in monetary terms. In comparison, forests in the United Kingdom generate £ 55 billion annually.

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Since estimates of carbon absorption capacity at sea are always very uncertain, the Office for National Statistics has published the most conservative estimate possible. It also follows, in fact, that the sea floor could create up to six times the value off the coast of the United Kingdom. Moreover, this value could increase even if a portion of the carbon dioxide produced by industrial production is buried under the sea floor, according to government plans, in order to achieve the net carbon emissions target by 2050.

According to the statistical office’s calculations, it is only tourist and beach use that creates greater economic value in this type of seabed use. Renewable energy is getting close to the value of leaving the sea floor alone, as I install more and more wind turbines in the seas of the United Kingdom. Since 2008, offshore wind capacity has increased 37-fold in the island nation.

In order to measure and calculate natural capital, the United Kingdom has also set up a commission that issues an annual report on the current state of the “natural capital balance”. The 2020 edition (She noted limited progress in regulating agriculture and fisheries, but welcomed the 2050 Net Emissions Act. The document was placed in the 2018 Environmental Plan for 25 years)25 years environmental plan) On the “limited” progress towards the target, noting that the state of the environment has deteriorated further in a number of areas.

The UK is not the only country trying to do the same, however Reuters In short, there have already been policy efforts in New Zealand, China, Belize and the Bahamas to take natural systems into account in decision-making. In mid-March, the United Nations Statistical Commission also adopted a unified methodological framework, and the United Nations says that more than 34 countries, including Brazil, South Africa and India, are currently experimenting with measuring “natural capital”.

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