Accounting for natural capital key - Permsec

ASCERTAINING and quantifying Zambia’s natural capital wealth in tourism, land, forest, water and other sectors is important in planning for the country’s economic growth and ensuring sustainable development, the Ministry of National Development Planning has said.

Permanent Secretary in charge of Development Planning and Administration, Chola Chabala said Zambia heavily relies on natural capital and human capital for income generation and that it was important to recognise the value of natural capital and appropriately manage it.

Mr. Chabala said it was envisaged that data to be generated from natural capital accounting would enhance policy decision-making on allocation and use of natural resources.

He said the data collected would also be useful to the private sector in making investment decisions, climate change interventions, community resource management and poverty reduction strategies, among other beneficiary sectors.

Mr Chabala said this when he officiated at the on-going workshop co-organised with the WWF Zambia on development of natural capital accounts for Zambia WAVES Accounts on tourism, forest, water and land in Lusaka yesterday.

“The ministry has been coordinating the implementation of the Wealth Accounting and Valuation of Ecosystem Services ( WAVES) programme with the assistance from the World Bank and in collaboration with relevant ministries and stakeholders,” he said.

And WWF Zambia Country Director, Nachilala Nkombo assured of her organisation’s continued close collaboration with the Government in the protection of the environment, tourism and other sectors for the benefit of the people.