GHANA is making significant strides to deal with information gaps and integrate Natural Capital Accounting (NCA) into its improvement planning.
Natural Capital Accounting goals to quantify and consider the financial worth of a rustic’s pure assets and ecosystems.
Launched a couple of yr in the past, the NCA initiative is led by the Environmental Protection Agency (EPA) and the Ghana Statistical Service (GSS), with help from numerous ministries, together with the Ministry of Finance, the National Development Planning Commission, the Ministry of Fisheries and Aquaculture Development, and the Forestry Commission with funding from the World Bank.
At a media and civil society organisations engagement in Accra on Tuesday, the Executive Director of the EPA, Dr John Krugu, underscored the importance of pure capital encompassing minerals, land, soil, air, water, and forests and the necessity for its sustainable administration to be able to improve coverage and decision-making.
Dr Krugu careworn the necessity for high-quality, dependable, and timely information to handle pure capital successfully, according to the United Nations System of Environmental-Economic Accounting (SEEA) Central Framework.
“NCA offers a transformative framework that could revolutionise Ghana’s environmental management and unlock opportunities for both people and the planet,” Dr Krugu mentioned and emphasised that pure capital, each renewready and non-renewable needs to be included in Gross Domestic merchandise (GDP) calculations to offer a complete view of the nation’s financial worth.
Furthermore, Dr Krugu famous that the United Nations Statistics Commission had urged member nations to account for pure assets in GDP calculations to advertise inclusive progress and improvement.
As a part of the NCA agenda, he mentioned, the EPA and GSS would conduct baseline research to be able to consider the worth of Ghana’s mineral assets, assess the prices and advantages of their extraction, and analyse their environmental influence on native communities.
The Director of Economic Statistics on the GSS, Mr Edward Asuo Afram, added that the brand new international sustainability programme advocates incorporating pure capital into GDP calculations.
Consequently, he mentioned, the GSS would collaborate intently with the EPA to combine pure capital into Ghana’s GDP measures.
He highlighted that whereas Ghana is famend for its stunning landscapes, wealthy biodiversity, and various ecosystems, acknowledging and valuing these assets past their quick market worth is important for maintainready improvement.
The Communications Specialist for the Ghana NCA Programme, Mrs Baaba Cofie, mentioned that the NCA course of was for producing baseline information on the nation’s pure assets, which might assist of their preservation for future generations therefore calling on the media to champion the trigger.
BY BENEDICTA GYIMAAH FOLLEY
