Nations Must Invest in All Capital Types for Sustainable Growth

Governments worldwide are urged to adopt a comprehensive investment strategy that extends beyond traditional economic indicators to encompass all forms of capital, ensuring both the well-being of future generations and the preservation of the planet. This perspective, detailed in a Nature article published online on September 8, 2026, advocates for a holistic approach to national development, positing that sustainable growth requires nurturing not only financial and physical capital but also human, social, and natural capital.

The article emphasizes that focusing solely on income or Gross Domestic Product (GDP) provides an incomplete picture of a nation's true wealth and its capacity for long-term prosperity. By investing in human capital, which includes education, healthcare, and skills development, countries can enhance the productivity and well-being of their populations. Investments in social capital, such as strong community ties, trust, and effective governance, foster stability and cooperation, essential for societal progress. Crucially, the authors highlight the indispensable role of natural capital – the planet's resources and ecosystems – which underpins all economic activity and human life. Degrading natural capital for short-term economic gains is presented as a direct impoverishment of future generations.

The authors propose that national accounting frameworks should be expanded to better measure and value these diverse forms of capital. This would enable policymakers to make more informed decisions, prioritizing investments that yield long-term, sustainable benefits rather than short-term economic boosts that come at a significant environmental or social cost. For instance, investing in renewable energy infrastructure not only contributes to environmental protection but also creates new economic opportunities and enhances energy security, thereby building multiple forms of capital simultaneously. Similarly, investing in biodiversity conservation can protect vital ecosystem services, such as pollination and water purification, which have immense, often unquantified, economic value.

The Nature article's call for a broader definition of capital and investment is a direct response to the growing recognition that current economic models are often unsustainable. The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) has previously highlighted the severe decline in biodiversity, a critical component of natural capital, underscoring the urgency of this issue. By shifting focus from mere income generation to the holistic development and preservation of all capital assets, nations can aim for a more resilient, equitable, and environmentally sound future, ensuring that the planet and its inhabitants can thrive for generations to come. The doi for the article is 10.1038/d41586-026-02807-8.