World Bank to help India with ecosystem valuation

Thursday, 28 October 2010, 17:20 Hrs
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Washington: World Bank will help developing countries, including India, to prepare national accounting systems that also reflect the economic benefits reaped from ecosystems such as forests and wetlands.

Apart from India and Colombia, eight other countries would participate in the first phase of the new initiative.

World Bank today said the new global partnership would give developing countries the tools needed to integrate the economic benefits that ecosystems such as forests, wetlands and coral reefs provide, into national accounting systems.

"National accounts need to reflect the vital carbon storage services that forests provide and the coastal protection values that come from coral reefs and mangroves.

"Through this new partnership, we plan to pilot ways to integrate ecosystem valuation into national accounts and then scale up what works for countries around the world," World Bank Group President Robert B Zoellick said in a statement.
Source: PTI
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