In a move that stands to reshape decision and policy-making towards sustainable development, the United Nations recently adopted the new System of Environmental-Economic Accounting—Ecosystem Accounting (SEEA EA) framework. This measure would ensure that natural capital—forests, wetlands and other ecosystems—are recognized in economic reporting.
Inger Andersen, UNEP Executive Director said “the new framework can be a game-changer in decision-making. By highlighting the contribution of nature, we now have a tool that allows us to properly view and value nature. It can help us bring about a rapid and lasting shift toward sustainability for both people and the environment.”
This has also further beckoned on the private sector to use a ‘magnifying lens to make natural resources, organisms and ecosystems — as well as the services that they provide – visible’ in their business decisions and strategies.
In West Africa, how can businesses develop a keen interest in setting natural capital goals and outcomes alongside the government? This requires that awareness be increased in this relatively new term – natural capital. It also requires that businesses know how to assess their impacts and dependencies on natural capital as well as collaborate in the uptake of Natural Capital Accounting principles. This is even more so as each and every business depends on natural capital goods and services.
This webinar is thus designed to increase awareness of natural capital and Natural Capital Accounting for businesses. It also touches on what needs to be considered to get business to invest in natural capital beyond immediate returns in addition to identifying the role of development finance in heightening natural capital awareness and uptake in West Africa as we move to ‘Restore Our Earth’