Saturday, February 4, 2023

Government sets up Natural Capital Committee to link environmental protection with economic development – Nation World News

Before the Committee of Ministers could decide on the future of the Dominga project, the government of President Gabriel Boric announced the creation of the Natural Capital Committee, a measure that sought to conserve biodiversity in the country alongside economic criteria.

“It will establish a governance platform, providing information and environmental knowledge, but in an economic key, designed to improve financial, public budget and productive decision making in the country without undermining nature,” the executive said in a statement. Explained through the minute.

in that line, example swill be led by the Ministry of Environment, Finance and Economy: “It places Chile at the forefront of confronting the urgent needs of climate change and the crisis of biodiversity loss, placing nature at the center of the discussion for clean and sustainable development.”

The government also specified that the Natural Capital Committee would advise and propose a course of action”.In the measurement, evaluation, value addition, conservation, restoration and improvement of Chile’s natural capital, which allows the integration of nature and biodiversity in the process of design and implementation of the country’s development.,

In view of this, Environment Minister Maisa Rojas insisted on this initiative “It is to recognize and highlight the contribution of nature and biodiversity to economic development (…) We hope that the work bears fruit and that we can have a better understanding of Chile’s natural capital, to promote changes in the design of public policies, and that investment promotion decisions will be based on this environmental criterion includes in its decisions. ,

Meanwhile, Mario Marcel, the finance minister, stressed that the Central Bank and various organizations such as the Inter-American Development Bank (IDB) are part of this example to work with measurable, achievable objectives and based on experience. Case: “During 2023, Chile will launch a pilot initiative to establish natural capital baselines at the country level, in order to make a first methodological estimate and current assessment of the status of natural capital stocks”.

,This is the first step before making a decision, which allows, among other things, to evaluate how the current state of our natural capital can contribute to the assessment of our great socio-environmental challenges.”, added the Economist.

Finally, President Boric kicked off the event by signing a decree creating the Natural Capital Committee, highlighting the initiative as a pioneer in Latin America and reiterating the importance of biodiversity to the country’s development.

“We must have another way of looking at things and more information to make better decisions (…) We are talking about a tool that recognizes the intrinsic value of nature, What it seeks is to value it economically, with the aim of contributing to its conservation by explicitly integrating said value into our decision-making, which we were not doing before.”, emphasized the President.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news