The World Bank’s Senior Director for Environment and Natural Resources, Paula Caballero, discusses the work done by WAVES in a video interview filmed by UNDP as part of their Park Talk series at the IUCN World Parks Congress 2014 in Sydney, Australia.
Achieving an actual measurable value for “natural capital” has remained elusive, says Eli Fenichel, an assistant professor of bioeconomics and ecosystems management at the Yale School of Forestry & Environmental Studies. In a new paper, Fenichel and co-author Joshua Abbott of Arizona State University report developing an approach to calculate a fair and consistent price for natural capital stocks that is grounded in the same theory of economic capital that governs the pricing of other capital assets, from stock prices to factories.
Rwanda becomes a WAVES core implementing country. Rwandan Minister of Natural Resources Minister Stanislas Kamanzi spoke to the WAVES team on why he is excited about the idea of valuing natural capital.