Quantifying the Direct Relationship Between the Economy and the Environment
Recognizing the importance of services provided by natural capital such as forests and wetlands and their role in fostering sustainable economic growth, global initiatives such as the World Bank’s Partnership for Wealth Accounting and Valuation of Ecosystem Services (WAVES) and UNEP Green Economy have been initiated in recent years.
The country is committed to move forward to implement natural capital accounting as one of the tools to boost the country’s sustainable development. Through direct engagements with the WAVES secretariat, the government of Rwanda has shown its interest in natural capital accounting and “readiness” to implement WAVES. Rwanda is one of the latest three countries (including Guatemala, and Indonesia) to join WAVES as a core implementing country.
The main objectives of this proposed study are to:
1) quantify the economic values of the Rugezi wetland and Nyungwe National Park as examples that can facilitate the integration of natural capital in System of National Accounts;
2) explore and identify economic tradeoffs associated with alternative natural resource management and policy options to support landscape-level conservation and development planning; and
3) identify innovative financing mechanisms that encourage investment in natural capital.
Implementing this natural capital accounting project in Rwanda will directly inform the natural resource management policy agenda in Rwanda by quantifying and illustrating direct relationships between the economy and the environment. This will further support the work of Rwanda’s newly established national steering committee on natural capital accounting.
Additionally, it will link with and strengthen the World Bank’s WAVES initiative both in Rwanda and other partner countries in Africa (such as Madagascar and Botswana). Results from this study will guide natural resource management policy agenda by establishing the direct relationship between the economy and natural capital. It will provide a practical field-tested country case study of regional communities of practice (CoPs) for natural capital accounting that can be adopted by other regions/countries.
Meet the Team