Here are some facts that you might not know:
Do these numbers just seem like bits of trivia? In fact, these are all important results that came out of natural capital accounting (NCA) – a system for generating data on natural resources, such as forests, energy and water, which are not included in traditional statistics. NCA follows standards approved by the United Nations to ensure trust, consistency and comparison across time and countries.
The results above are among the numerous NCA findings that are being generated every year, with support from a World Bank-led global partnership called Wealth Accounting and the Valuation of Ecosystem Services (WAVES). In response to the growing appetite for information on NCA, WAVES has set up a new Knowledge Center bringing together resources on this topic.
Countries have made remarkable progress in implementing NCA over the last few years, and when I look over the wealth of resources in the Knowledge Center, four achievements really stand out:
By providing clear and concise numbers for many of the natural resources that we have long taken for granted, policy makers can make more informed decisions. From using energy accounts to identify the impacts of removing energy subsidies, to using greenhouse gas accounts to offset the effects of a carbon tax, I believe that NCA can be a game-changer. By helping to bring information on NCA to a wider audience, the Knowledge Center is a small step in that direction.