Placing Economic Value on Africa’s Natural Resources – UNEP

Oilnews

African Ministers and Experts Spotlight Efforts to Incorporate Natural Wealth Accounting in Development Planning.

Wealth accounting and the valuation of ecosystem services are critical to Africa’s future growth, as the continent undergoes unprecedented development.

Projections point, for example, to broad-based acceleration in growth in Sub-Saharan Africa to around 5.5 per cent in 2013-2014, reflecting robust domestic demand and increased investment in export-oriented sectors as the main economic drivers, according to the IMF World Outlook 2013.

Achieving long term development and poverty alleviation in Africa relies on the sustainable and optimal management of the natural resource base.

Natural capital is a critical asset, especially for low-income countries, where it makes up around 36 per cent of total wealth, according to recent World Bank estimates.  

The international conference on “Valuation and Accounting of Natural Capital for Green Economy (VANTAGE)” in Africa – taking place in Nairobi on 3 and 4 December 2013 –…

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