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Track 3 Institutions and Tools

Track 3 Institutions and Tools.

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Track 3 Institutions and Tools

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  1. Track 3Institutions and Tools Weprioritise the valuation of criticalecological, social, spiritual, cultural assets as critical components of a sustainableeconomy; appropriatedevelopmentindicatorsthatreflect and measureprogress in these areas of inclusive and sustainabledevelopmentneed to bedeveloped

  2. Track3 Discussion • Short presentation on ecosystem services and land valuationmethodologies • Land and resourceowners/custodians struggle to value theirresources due to: • Market value thatdoes not represent the genuineenvironmental, cultural, social, spiritual value, and does not includecost of restoration over a long time period (egmining, forestryprojects) • lack of appropriatemeasurementmethods and information toolsthatmeasure the genuine value (economic, cultural, environmental) result in unfairdealings

  3. Discussion (cont.) • Inappropriatemarket value for naturalresourceslinkedat national level to GDP measurethatfails to distinguishbenefitsfromcosts and yet sets development agenda • Need to move towards green accounting, and PIDF wellplaced to promotethisthrough a multistakeholderapproach • Opportunity to develop a regionalmethodology for valuingwhatis important in sustainabledevelopment • Important to address all levels: local/community, national and regional

  4. Recommendations • Developecoysystem and heritage/cultural valuationmethodologiesappropriate to Pacific context (includingtraditionalmethods of valuation) • And workdirectlywithcommunities on understanding and measuring the values of resources • Developcommonindicators for GG and SD as a Region

  5. Recommendations (Cont.) 4. Develop a Green GDP framework and makeit a part of national accounts – (sectorsalsoresponsible for this) 5. Developmechanismswithindustrysectors (egtourism, transport) to report back on their contribution to GG and SD

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