WAVES started out with five core implementing countries namely Botswana, Colombia, Costa Rica, Madagascar, and the Philippines. Recognizing the importance of ensuring that natural resources are properly accounted in policy making and planning around the world, in 2010, the World Bank, together with several donor countries, launched a global partnership called Wealth Accounting and the Valuation of Ecosystem Services or WAVES. This requires better and more integrated information on how the economy, environment and society interact, and this is another area in which NCA can play a vital role. To satisfy the requirements of the Paris Agreement, standardized approaches are needed to monitor the interaction between the environment and the economy especially as countries transition to greener economies. Under this agreement, countries will regularly submit nationally determined contributions known as NDCs as their commitment towards achieving this goal. The Paris Agreement on Climate Change forms the international basis on which countries will work to achieve the goal of limiting global temperature rise to within 2 degrees Celsius. The NCA will be an important tool worldwide for realizing this aim. Specifically, the SDGs call for ecosystem and biodiversity values to be integrated into national and local planning, development policy making, poverty reduction strategies and accounts.
Inherent in the SDGs is the link and interdependency between human well-being and healthy ecosystems. The SDGs were formulated based on a definition of progress as a holistic measure of economic, social and physical well-being. The Sustainable Development Goals or the SDGs are a global agenda to eradicate poverty and put all countries on a trajectory towards sustainable development by 2030. NCA is all the more compelling because of two important global agenda: the Sustainable Development Goals and the Paris Agreement on Climate Change, both of which the Philippines has joined. It is useful tool for national and local planning and public policy making. Natural capital accounting measures and values the links between the economy and the environment and allows us to analyze if we are using natural resources sustainably.
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The solution is to incorporate the full value of ecosystem services and the benefits that humans derive from them into policymaking through natural capital accounting or the NCA. Neither does it recognize the needs of communities who depend on natural resources for day-to-day survival. However, it’s clear that GDP is not a sufficient indicator of sustainability because it does not value the cost of environmental degradation or recognize how natural resources are being depleted in the course of meeting the demands of economic growth. This has significant negative consequences, particularly for the poor.Īt the core of this crisis is the systematic undervaluation of ecosystem services and the failure to account for their value in decision making.Ĭountries measure economic growth through Gross Domestic Product or GDP. The welfare of each one of us is determined not only by the economy and society in which we live, but also by the ecosystems that support our income, health, and spiritual wellbeing.Įconomic and population pressures as well as climate change have dramatically contributed to the degradation of natural resources that comprise the earth’s ecosystem. Participants of this conference, including our international guests who traveled from as far away as Botswana ladies and gentlemen.Jonas Leones, Undersecretary for International Affairs and Foreign-Assisted Programs, Department of Environment and Natural Resources Lisa Bersales, National Statistician and Civil Registrar General, Philippine Statistics Authority Ernesto Pernia, Socioeconomic Planning Secretary and Director-General of the National Economic and Development Authority
Democratic Republic of Congo - Français.
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