The Government of the Republic of the Maldives is developing natural capital accounts through pilot testing of the SEEA Ecosystem Accounting (SEEA EA) framework in Laamu Atoll.
The project has two main objectives: a). pilot the use of the SEEA EA framework within Laamu Atoll to support the Global Environment Facility (GEF) project, ‘Enhancing National Development through Environmentally Resilient Islands (ENDhERI)’, which seeks to expand knowledge of green growth development, social capital and mainstream the use of Natural Capital Accounting (NCA) in decision-making b). build natural capital accounting capabilities, in particular ecosystem accounting, within the Maldives through the provision of training for government ministries and the development of university courses by Maldives National University (MNU).
The pilot testing of the SEEA EA framework in Laamu Atoll is expected to generate valuable information on the health and productivity of the region's ecosystems and how they contribute to the local economy and people's well-being. The research garnered will provide the basis for a fit-for-purpose accounting system in line with the System of Environmental Economic Accounting (SEEA) framework, and the SEEA Ecosystem Accounting (SEEA EA) framework in particular. The project team will work closely with relevant stakeholders and local communities to ensure that the accounting system is adapted to the specific needs and context of Laamu Atoll and ensure that institutional capacity and stakeholder coordination and collaboration are enhanced at every step of the project to support future replication at the national scale.
The pilot is being implemented by the University of New South Wales, the Rekam Nusantara Foundation and the MNU, under the directive of the Maldivian Ministry of Environment, Climate Change and Technology. Fiscal support is provided by Global Environment Facility and the United Nations Environment Program.
- Jordan Gacutan, Senior Research Associate, GOAP
- Maria Alarcon, Research Associate, GOAP