The World Bank has launched a global partnership aimed at helping countries include the costs of destroying nature into their national accounts.
The World Bank today announced a new global partnership that will give developing countries the tools they need to integrate the economic benefits that ecosystems such as forests, wetlands and coral reefs provide, into national accounting systems. The goal is to introduce the practice of ecosystem valuation into national accounts at scale so that better management of natural environments becomes “business as usual”.
Speaking in Nagoya, Japan at the Convention on Biological Diversity meeting, World Bank Group President Robert B. Zoellick said the alarming loss of biological diversity around the world can be partly attributed to the lack of proper value being placed on ecosystems and the services they provide. He said the new Partnership can provide the “missing information” on a country’s “natural capital” to guide leaders in decision-making.
See full Press Release.
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