NatCap TEEMs (Natural Capital Project: The Earth-Economy Modelers) is a new research center in the Department of Applied Economics at the University of Minnesota whose goal is to improve our understanding of the integrated earth-economy system and to inform decision-making for sustainable development on a livable planet.
Mission Statement: NatCap TEEMs integrates ecological, climate, and economic data in Earth-Economy models to inform decision-making for sustainable development.
Economic activity is the dominant force shaping earth systems in the 21st century. The vast expansion of economic activity over the past two centuries has led to unprecedented advancements in material standards of living but also to unintended negative environmental consequences, including climate change and loss of biodiversity, which now threaten long-term prosperity and the well-being of future generations. The current economic system rewards the production of marketed goods and services but not the stewardship of natural capital, which provides the vital infrastructure that underpins economic activity. A central challenge for global society is to fix the fundamental asymmetry of current market incentives and align economic systems with stewardship of earth systems to ensure sustainable prosperity.
NatCap TEEMs is a part of the Natural Capital Project, a global partnership involving academic institutions (University of Minnesota, Stanford University, Chinese Academy of Sciences, Swedish Royal Academy of Sciences, Stockholm Resilience Center) and conservation organizations (The Nature Conservancy, World Wildlife Fund) whose mission is to pioneer science, technology, and partnerships that enable people and nature to thrive. NatCap TEEMs provides this global partnership with leadership in economic data and models for pioneering the integration of economics with natural sciences to develop Earth-Economy models.
