Georgia initiates assessing its natural capital



Posted on 02 October 2013  | 
Recently, Georgia offered to be one of the pilot countries to assess its natural capital with the ultimate objective of valuing services provided by the country’s diverse ecosystems, which play significant part in supporting major industrial sectors of the country. In order to start the process Georgian Ministry of Environment and Natural Resources Protection, UNEP and WWF-Caucasus conducted a joint research - the TEEB-Georgia: Scoping Study.
After almost an year of work the Scoping Study  was presented on 1st October 2013 at the dedicated meeting with participation of the Minister of Economy and Sustainable Development, the Minister of Environment and Natural Resources Protection, the Minister of Finance, the Minister of Agriculture, the Minister of Regional Development and Infrastructure and the representatives of UNEP and WWF.
The “TEEB-Georgia: Scoping Study” is a preliminary exercise that sets the targets for undertaking a full TEEB study that would provide decision-makers with data and recommendations and would cover a large spectrum of problems, such as changing policies affecting use of natural resorces, land use management, investment in natural infrastructure restoration, national accounting. This approach would ensure the development of nature capital accounting practices in the country, which would bring development and environment closer and find acceptable solutions.
Discussing TEEB-Georgia Scoping Study results on ministerial meeting.
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