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Issue #55, September 2021
Dear Colleagues
Welcome to the first edition of the Global Program on Sustainability's (GPS) redesigned newsletter! Building on the WAVES newsletter that has been bringing you updates on all that is natural capital over the past decade, the GPS newsletter has a new look to reflect the growing partners and knowledge base.


In this issue, we take a closer look at a series of new research papers that make a strong economic case for investing in nature. In the lead­–up to the 15th Conference of Parties (COP-15) of the Convention on Biological Diversity and the signing of a new Global Biodiversity Framework, these papers highlight the critical role of nature in economic growth and development and guide governments towards potential nature­–smart investment pathways.

A new story busts four common myths about the role of nature in development. Did you know, for example, that coordinated nature­–smart policies could increase global real GDP by up to $150 billion in 2030—debunking the commonly held view that policies that make environmental sense are not good for the economy.

We also look at how the solutions to the crisis in nature lie in the economic sectors that put the greatest pressure on biodiversity and ecosystem services, such as land and ocean use, infrastructure, and energy and extractives.

There are also updates from the Africa Natural Capital Accounting Community of Practice and an interesting set of webinars.
 
Finally, don’t forget to join us for the Fifth Policy Forum on Natural Capital Accounting for Better Decision Making on September 15th & 16th. Held entirely online, this year’s forum will discuss practical ways in which Natural Capital Accounting (NCA) can make COVID-19 recovery initiatives more sustainable and effective.

Happy reading and stay safe!

The GPS Team
This Issue
Featured News

Mythbusters: Uncovering Nature’s Economic Value

Investing in Nature Unlocks Development Benefits

Update from the NCA Africa CoP


New Publications



And more...

Upcoming Events

Fifth NCA Policy Forum

In Case You
Missed It

Natural Capital Accounting in MENA Shifts Towards Sustainable Growth

Measuring Nature's Contribution to the Economy

Eight African countries
will receive Targeted Technical Assistance under GPS

News from the community
Featured News
Mythbusters: Uncovering Nature’s Economic Value
Biodiversity and ecosystem services are in unprecedented decline and, like with climate change, the associated risks are material to economies. Nearly 200 countries are expected to adopt a new set of post-2020 global targets, to conserve, sustainably use and share the benefits of biodiversity at a landmark Conference of the Parties of the Convention on Biological Diversity in the coming months. In a bid to inform these discussions and policy decisions, the World Bank’s new report The Economic Case for Nature, makes a powerful case that economic development and the state of biodiversity and ecosystem services are closely linked.  
Investing in Nature Unlocks Development Benefits
Loss of nature and biodiversity worldwide has become a crisis. The World Bank Group’s approach paper on biodiversity and ecosystem services, Unlocking Nature-Smart Development, argues that the global nature crisis is both a systemic risk for development and a development opportunity. Solutions to the global nature crisis lie in the economic sectors that put the greatest pressure on biodiversity and ecosystem services: land and ocean use, infrastructure, and energy and extractives. The report proposes six global response areas to guide governments and inform broader discussions on how to integrate nature into development planning.
Photo: Lalibela countryside with the Lasta Mountains in the background
(WitR / Shutterstock)

Ethiopia aims to build a green economy and follow a climate resilience and green growth path that fosters sustainable development. On July 29, the Africa NCA CoP hosted an online webinar to discuss the country’s experiences through the lens of socio-economic and ecological benefits, challenges, and opportunities associated with the planning, implementation, and reporting of the Green Legacy Initiative.
Join the NCA CoP Telegram Group: Download the Telegram App on your device (mobile phone or laptop) and follow this link to join the group: NCA CoP Telegram invitation
Publications
Upcoming Events
Fifth Policy Forum on Natural Capital Accounting for Better Decision Making: Greening the Recovery
September 15–16, 2021
ONLINE Event
7:00-10:30am EDT (6:00–9:30am CST) both days
Please join us to discuss practical ways in which data and natural­ capital accounting can support nature­–based solutions for a sustainable recovery from COVID-19. The Policy Forum will be held virtually over 2 days with two 3.5-hour sessions per day. The Forum will be in two parts: the first part (Session 1) will comprise a key-note speech, followed by a panel discussion, and the second part (Sessions 2-4) will be for in-depth technical discussions.

Photo: mohammad aldi purnomo / Shutterstock.com
If you or your team are working on a project relevant to this year’s Forum topic, Greening the Recovery, please consider sharing it with the natural capital accounting and green recovery communities.
In case you missed it
Natural Capital Accounting in MENA Shifts Towards Sustainable Growth

Natural capital accounting looks at a country’s natural assets by placing value and measuring the condition of the environment. By assessing nature's contribution to the economy and the impact of the economy on the environment, NCA provides a comprehensive picture of development progress. Morocco and Egypt are NCA leaders in the Middle East & North Africa region.



Photo: Lush oasis landscape in Morocco (Cdrin / Shutterstock)
Measuring Nature's Contribution to the Economy


The UN Statistical Commission adopted a new international standard: the System of Environmental Economic Accounting—Ecosystem Accounting. This means that countries can calculate the ecosystem services—such as carbon storage and flood protection—and their economic contributions in a standardized way and with the same confidence as calculating GDP.

Photo: Quirimbas National Park, Mozambique (Borgarello / World Bank)
Eight African countries will receive Targeted Technical Assistance under GPS

The World Bank is set to give Targeted Technical Assistance to 20 countries, eight of which will be supported by GPS: Chad; Ghana; Morocco; Kenya; Nigeria; Rwanda; Uganda; and Zambia








Photo: Lake Bosumtwi in Ghana
(TG23 / Shutterstock)
News from the community
The following links provide natural capital related news, updates and events from the global community.
They do not necessarily reflect the views of the GPS.







Cover Photo: aerial view of mangroves in The Gambia (Curioso.Photography / shutterstock)
This newsletter is published by the GPS Communications Team
We welcome your submissions of news, events, and publications at wavespartnership@worldbank.org