WAVES Newsletter, Issue 48, February 2018
In low-income countries, nearly half of total wealth comes from natural capital, according to the findings from The Changing Wealth of Nations 2018. (Photo: Joerg Steber/Shutterstock.com)

Dear Colleagues,

2018 started off on a high note with the much-anticipated launch of the World Bank's  Changing Wealth of Nations 2018: Building a Sustainable Future. The publication, which brought together 20 years of wealth accounting data for 141 countries, was showcased by media outlets from around the globe - including Quartz, Bloomberg, El PaísIl Foglio, Business Mirror, and Andina - as well as during panel discussions hosted by  Brookings in Washington, D.C and the Graduate Institute in Geneva. The report revealed some important findings about the sustainability of countries' growth paths, and confirmed the critical role of natural capital - particularly for low-income countries, for whom natural capital makes up 47 percent of total wealth.

In other news, several former WAVES partner countries continue to make progress institutionalizing natural capital accounts, in line with their post-WAVES roadmaps. Botswana released the fourth iteration of its national water accounts, and a technical report on its mineral accounts will be out shortly. And in  Costa Rica , the latest environmental accounts show improved energy efficiency and lower carbon dioxide emissions from energy use. Meanwhile, Indonesia recently held a national seminar to discuss action plans for implementing the SEEA, which was attended by representatives from numerous line ministries. 

Building on these successes, WAVES will step up its national and global-level work thanks to USD $4.5 million in new financing from the Government of the Netherlands. The Netherlands has been an invaluable WAVES supporter. Not only did Dutch funding help to launch the WAVES program in 2010, but the Netherlands has repeatedly shared its considerable experience on NCA by providing technical guidance, and generously hosted two fora dedicated to NCA for better policy. We look forward to continuing this meaningful partnership.

Finally, the WAVES team has a few internal updates to share. Raffaello Cervigni, lead environmental economist with the World Bank's Global Platform Unit, is taking over as program coordinator for WAVES, with Sofia Ahlroth as co-coordinator. Welcome Raffaello!


The WAVES Team
News from the WAVES Partnership

Having officially completed the WAVES Program, Botswana continues to lead in natural capital accounting.

From the launch of the Changing Wealth of Nations: infographic, FAQs, press releasedata, and more.

Decision-makers gathered in Jakarta to discuss moving forward with the implementation of the SEEA.
New in the Knowledge Center

News from our Partners

New Zealand releases environmental-economic accounts 2018
The accounts summarize New Zealand's stocks and flows of natural capital, economic activities to protect the environment, and other interactions between the environment and the economy.

Botswana publishes national water accounts for 2015/16
This is the fourth SEEA-styled water accounting report for Botswana. The accounts cover the period 2015-16 but also highlight trends from 2010-11 and 2014-15.

The United Kingdom releases ecosystem service accounts for 1997-2015
The report by the Office for National Statistics presents 10 service accounts, with estimates for the quantity and value of services, including food, water, air filtration and recreation.

The Netherlands publishes carbon account
The report by Statistics Netherlands and Wageningen University provides a comprehensive overview of all relevant carbon stocks and flows for the Netherlands.

WAVES Voices

"Data from our latest report on the wealth of nations helps us better understand what makes countries' wealth sustainable. When countries use their natural capital well, investing primarily in their people, they leap forward in terms of wealth per capita."

- Kristalina Georgieva, Chief Executive Officer at the World Bank,  speaking at Brookings in Washington, D.C. on February 5, 2018.
Natural Capital Accounting in the News
Upcoming Events
Measuring and Using Natural Capital Data 
Office for National Statistics
March 5, 2018
London, UK
UN Statistical Commission
March 5, 2018
New York City, NY, USA

The Biodiversity Finance Initiative
March 6-8, 2018
Chennai, India
Stanford University
March 19-22, 2018
Stanford, CA, USA

This n ewsletter  is published by the WAVES Communications Team. We welcome your submissions of news, events and publications at wavespartnership@worldbank.org