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Fostering Resource Security and Sustainable Development through improved monitoring of the Physical Economy

Fostering Resource Security and Sustainable Development through improved monitoring of the Physical Economy

Summary

Many of today’s large societal challenges, such as climate change mitigation, resource security, urbanisation, and migration require a fundamental transformation of the way we use natural resources. However, our understanding of the stocks and fl ows of materials and energy (the physical economy) is highly fragmented and involves signifi cant knowledge gaps. The current practice of monitoring selective fl ows at reference points that are not clearly defi ned is ineffi cient and expensive and hinders robust quantitative systems analysis needed for eff ective policymaking. The MinFuture project has developed of a framework aimed at providing guidance on how to perform a more systematic monitoring of the physical economy, as well as steps helping to implement such a system.

Key recommendations

  1. Develop a data infrastructure for material and energy stocks and fl ows that integrates stocks and fl ows data from governmental statistics and individual projects into a systems context.
  2. Establish legal and institutional conditions, at relevant governance levels, to support the development and maintenance of this data infrastructure.
  3. Address main knowledge gaps on the accounting of (i) geological stocks, (ii) anthropogenic (inuse) stocks, and (iii) supply chains.

 

Publishing Date
December, 2018
Language
English
Citation

Araujo Sosa, A.; Hirschnitz-Garbers, M.; and Müller, D. (2018). Fostering Resource Security and Sustainable Development through improved monitoring of the Physical Economy. MinFuture Policy Brief (D6.4.1); Ecologic Institute: Berlin