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WAVES in Practice


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 WAVES in Practice - Wealth Accounting and Valuation of Ecosystem Services

Photo: Glenn Marie Lange in Philippines

Botswana

Natural capital, such as the Okavango Delta and biodiversity, plays a key role in the economy of Botswana. It is critical to make the value of natural resources, biodiversity and ecosystems visible in order to help policymakers make the best decisions possible. In Botswana, the WAVES Partnership is cooperating closely with the UNDP-UNEP Poverty-Environment Initiative, which aims to mainstream poverty and environment issues in development planning. While priorities and sequencing of work under the Partnership is still being discussed, suggestions focus on creation of accounts for tourism, water, minerals, and possibly energy.

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Botswana
Colombia
Costa Rica
Madagascar
Philippines

Colombia

Given the importance of different ecosystem services in Colombia, it is hardly surprising that there have been a multitude of studies to date that attempt to value these ecosystems. There is also strong interest in environmental accounting, with the national statistics office (DANE) in the process of introducing environmental accounts as part of the official statistics. It has introduced stock accounts for energy and mineral resources and expenditure accounts for environmental protection and also made some progress towards undertaking renewable resource accounting (water, forest and liquid, gas and solid waste). The WAVES program in Colombia will build on existing work, bring together all stakeholders, and work towards ecosystem accounting contributing to policymaking.

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Costa Rica

In the last two decades, Costa Rica has transformed from one of the world’s most rapidly deforesting countries to one of the foremost pioneers in environmental protection. This and other successes in sustainable development were achieved through groundbreaking policies—for instance, in 1997 Costa Rica became the first country to initiate a country-wide payments for environmental services (PES) program and to adopt the terminology of environmental services and PES. The WAVES Partnership will provide policymakers with the tools to continue along their sustainable development path.

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Madagascar

Madagascar was identified as a potential pilot country because of its extraordinary biodiversity. In Madagascar, the WAVES Partnership is particularly pertinent—natural capital represents 49% of the country’s wealth. However, no comprehensive analyses of the components of this wealth exist at the national or regional level. Also there are also currently no mechanisms to foster integration of natural capital values into policy development and implementation. The WAVES Partnership aims to redress this situation in order to help Madagascar in its progress along a sustainable development pathway.

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Philippines

The Philippines is among the few countries that implemented environmental and natural resources accounting during the 1990’s and early 2000’s, but the accounting has only been implemented minimally over the last 10 years due to budgetary constraints, among other issues. Recently, increasing scarcity of natural resources and recognition of the archipelago’s vulnerability to natural disasters and climate change have led to increased interest in addressing poverty, environmental degradation, and the development of new sources of growth. The new political leadership emphasizes governance reforms including transparent and science-based decision-making while pursuing inclusive and sustainable growth that addresses conservation, protection, and rehabilitation of the environment and natural resources.

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