WAVES logoThe Wealth Accounting and the Valuation of Ecosystem Services (WAVES) is a global partnership that supports countries to implement Natural Capital Accounting based on the SEEA (System of Environmental-Economic Accounting).

Its targets are:

  • To minstream natural capital and ensure that natural resources are taken into account in development planning and national economic accounting.
  • To measure invisible components in GDP that derive from nature and nature based human activities (e.g. forest services such as carbon sequestration and air filtration, agricultural productions, wetland services, fisheries, mineral mining etc.). Countries usually rely on GDP regarding their economic performance; however, it only measures the current income and production, not taking into account unsustainable use of natural resources for which reduces the natural capital and our material wealth in the long run.
  • To promote wealth accounting and natural capital accounting.

­­­WAVES partnership was launched in 2010 at the Convention on Biological Diversity meeting in Nagoya, Japan. It is a cross-sectoral partnership whose aim is to collaborate with Planning, Environmental and Financial Ministries and other governmental and non-governmental institutions as well as research bodies. The Partnership is governed by the Policy and Technical Experts Committee and funded by the European Commission and the governments of Denmark, France, Germany, Japan, the Netherlands, Norway, Switzerland, and the United Kingdom. Parties to WAVES include the United Nations Environment Programme, the UN Development Programme, the UN Statistical Commission, several NGOs and the countries of Botswana, Colombia, Costa Rica, Guatemala, Indonesia, Madagascar, Philippines, Rwanda.

Website: https://www.wavespartnership.org/en



Biodiversity and National Accounting

System of Environmental-Economic Accounting

The Economics of Ecosystems and Biodiversity for Water and Wetlands

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