Economic and social costs and values are still excluded from the system of national accounts
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.More than a pretty face: Gorillas in the Republic of Congo’s Odzala-Kokoua National Park have a value that, if necessary, can be monetised. Photo: Education Images/Universal Images Group/Getty Imagesrecently estimated the monetary value of ecosystem services — especially carbon sequestration — provided by one whale to be about $2 million over its lifetime.
Natural ecosystems were seen as resources to be exploited for production, the environmental costs of which were externalised through the system of national accounts , which still counts GDP today absent of ecological and social costs. While Africa faces some of the worst effects of climate change and lacks the fiscal capacity to respond, the continent’s rich biodiversity and ecosystems are vital for theAfrica has forests and other marine and terrestrial ecosystems that are essential to realising net zero emissions. These are assets, the value of which needs to be credibly quantified to encourage their conservation, even as other problems remain.
Mass tree planting of a single species is considered a great solution to natural carbon storage. But, without adequate planning, understanding of the land and consultation with the local residents, these efforts create “Green deserts are a manifestation of climate colonialism and greenwashing that must be avoided.
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