Wealth Accounting and Valuation of Ecosystem Services


Human wellbeing is highly dependent on ecosystems and biodiversity, yet these critical natural resources are being degraded at alarming rates. Part of the solution lies in better informed policy making, in both public and private sectors, which take into account the full value of the benefits from ecosystems. WAVES and the Natural Capital Accounting Program help developing countries to value their natural capital and ecosystem services and how to use this information for policy making in favour of a sustainable development.

Country/region Topic Period Budget
Global
Climate-friendly growth
01.03.2013 - 31.12.2019
CHF 4'800'000
Background The growing pressures on natural resources from economic development and population growth - on minerals, water, air, forests, biodiversity and ecosystems – is becoming a priority issue for investment and trade globally. A broad consensus is emerging that until methodologies exist to systematically measure, report and, where possible, value natural resources, future decisions made by public and private entities will lead to inefficient resource use, with valuable environmental services being lost.
Objectives WAVES is a World Bank-led global partnership that aims to promote sustainable development by ensuring that natural resources are mainstreamed in development planning and national economic accounts.
Medium-term outcomes To implement natural capital accounting in partner developing and developed countries. To implement natural capital accounting in policy analysis and development planning of partner countries. To develop guidelines for implementing ecosystem accounting for global implementation. To promote the adoption of ecosystem and natural capital accounting beyond the WAVES partner countries.
Results

Expected results:   Partner countries have committed to institutionalize natural capital accounting based on lessons learnt of WAVES. Partner countries use NCA to inform policy making on growth, environment and poverty reduction. International guidelines are developed on physical and monetary accounts for ecosystems. Partner countries beyond the core WAVES countries that are undertaking natural capital accounting because of the support of WAVES.


Directorate/federal office responsible SECO
Credit area Development cooperation
Project partners Contract partner
  • International Finance Corporation
  • World Bank - International Bank for Reconstruction and Development


Budget Current phase Swiss budget CHF   4'800'000 Swiss disbursement to date CHF   0 Budget inclusive project partner CHF   4'022'000
Project phases Phase 1 01.03.2013 - 31.12.2019   (Current phase)