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Costa Rica and WAVES host a first-of-its-kind event bringing together 40 participants from nine countries in Latin America to build a community of practice on NCA, and focus on water accounts.
Guatemala will become the first WAVES country to undertake agriculture accounts to inform their pressing food security issues. This will be in addition to their focus on water, forest and energy accounts.
The Secretary of Planning and Programming of the Presidency, Ekaterina Parrilla, spoke with the WAVES Guatemala Team about using Natural Capital Accounting as a decision-making tool and embedding it in the country’s long-term development plan to balance economic, social and environmental development.
As a new WAVES core implementing country, Guatemala plans to build on existing work on natural capital accounting to better integrate the true value of goods and services into development policy.
Ricardo Martinez-Lagunes, Inter-regional Adviser on Environmental Economic Accounts in the UN, demystifies water accounts and explains how countries are using them to inform policy decisions.
Measuring the value of forests and their related ecosystems through "forest accounts" is helping countries set their economic priorities.
The environmental benefits provided by forests are often undervalued or ignored in conventional national accounting, with the more tangible timber products perceived to be the biggest contributor to a country’s gross domestic product (GDP), according to experts.
