Nature accounting in Colombia makes sound economic case for protecting native ecosystems

In brief:

• A new “natural capital account” for Colombia’s Upper Sinú Basin calculates the economic value of its natural ecosystems’ erosion control services to the energy and water sectors at $100 million (1.7% of the region’s GDP). An aqueduct under consideration to support increased coastal tourism would increase the value by 12%.
• This is one of the first times outside Europe such an account has been created with locally validated models and data following the UN System of Environmental-Economic Accounting – Ecosystem Accounting framework.
• This paper’s methodology offers a practical way to develop and apply such accounts regionally, laying the groundwork for compensation programs that protect nature and support livelihoods.

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