Date: Wednesday, May 14th, 2014 Time: 9:00 a.m. - 10:30 a.m. ET (13:00 – 14:30 GMT or convert time) Location: World Bank Headquarters (Preston) & Online
This event has concluded. View the replay below.
GDP looks at only one part of economic performance: Income. It says nothing about the assets that generate this income.
But "natural capital" like forests, wetlands and agricultural land also contributes to the economic health of a country. More and more, countries such as Botswana, the Philippines and Guatemala, as well as top corporations are realizing that there is more to wealth than what is measured by GDP. The movement to incorporate the value of natural resources into economic planning—or ‘Natural Capital Accounting--is fast gaining ground and changing how countries think about wealth, development and economic growth.
What does Natural Capital Accounting mean for our environment? How has it changed the way countries think about economic growth? What does it mean for countries' development planning? And how does it work in practice?
In this high-level plenary, learn how countries are making breakthroughs in valuing their natural capital, and making better-informed decisions for development.
How central is China for a new understanding of growth?
How can local people benefit from this natural capital in developing country? For the case of Madagascar, the country is already known for its incomparable biodiversity. It also has lot of other natural resources such as freshwater, oil & gs, mines products, etc. However, in spite of these which can be considered as the wealth of the country, it is still among the poorest countries in the world.
People are beginning to get the concept but always want to know what it means in practice. What do the panelists see as the best examples of where natural capital accounting has been used to make better decisions for development and environment?
Francesco De Agazio
How can we change the mind of those who maintain their own greed and benefit on the exploitation of natural resources? especially with the fossils?
fossil does not mean only oil, means intensive use of pesticides and chemical that will never be replaced by something natural, less aggressive to humans, the meaning of life. Also mean the need to keep the land transport on wheels, as well as transportation of goods (freight), it is necessary to spend tires and oil. It also means massive use of plastic and should give life to the planned obsolescence.
The tricky part is to adjust and regulate the minds of those who drive countries, conservatives ideologies. Beyond economics, is a matter of political ideologies rooted for decades applied to the territory. In countries that know to take advantage on what is easy for them, justifying as a social issue, sometimes, development, justifying the use of GMO as inflow to inflate gdp will be reversed in the population, not counting adversity from deforestation, climatic changes, negative environmental impact, because it loses social smallholders and millenarian traditions, driving away the family from the field, moving all to the cities, much more than we have seen in the last 30 years.
then how to convince these people that the power of command? Discouraging !!
Thanks you Gentlemen's.
How does the concept of Natural Capital going to benefit the developing world especially on the distribution and sharing of the resources compared with the current practice of Exploitation and Distribution.
A David ching
The movement to incorporate the value of natural resources into economic planning—or ‘Natural Capital Accounting--is fast gaining ground and changing how countries think about wealth, development and economic growth. However, many leaders of government are not in valuing their natural capital, and making better-informed decisions for development.
Does the value in natural capital solely equate to revenue opportunities such as tourism, or can natural capital also have value based on how it makes the local population feel, the utility it provides them just by being there.
Is Natural Capital Accounting going to give the impression that developing countries are wealthier than they really are by current measures?
Abu Sayed Md. Imran
What kind of policy can influence the development of natural capital? How such policies can be taken for national development in a developing country like Bangladesh?