Integrating the Economy and the Environment

Policy and Practice

image of Integrating the Economy and the Environment
This paper provides a comprehensive overview of the key conceptual, policy and practical aspects of integrating economic and environmental policies. Policymakers confront several complex issues in trying to harmonise economic and environmental objectives. This paper aims to help them in dealing with these issues so that the transition to environmentally sustainable development can be accelerated in the Commonwealth.

Following an overview of the main issues in chapter one, chapter two provides an introduction to the application of economic valuation techniques to environmental problems and costbenefit analysis. Chapter three deals with environmental and natural resource accounting and the following chapter shows how economic instruments can be used to promote environmental objectives. The concluding chapter highlights the overall policy implications.



The Policy Implications

The economy and the environment are inextricably linked. Policies that attempt to tackle one without reference to the other could render an economy unsustainable. The old perception of environmental protection as the luxury of the rich world has been shown to be short-sighted and misguided.


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