WAVES was well represented at the Oceania Ecosystem Services Forum on March 27-31, 2017 in Brisbane, Australia, with work by the Philippines held up as a leading example.
Natural capital accounts can support farmers to market their products, secure finance and attract investment.
Our economic system functions within, not alongside, an environmental reality. The tools have been created over the past twenty years to factor the environment into our decision making. We just need to take the next step.
The event brought together 60 participants from Indonesia, Australia, Botswana, and the Philippines to share experiences on implementing natural capital accounting.
A detailed analysis of the Central Highlands' forests in Victoria, Australia, concludes the net economic contribution from forestry in the area is relatively minor compared to the contribution to the state's water supply, tourism and farming.