14 February 2014: The World Bank and Himachal Pradesh Department of Environment, Science and Technology have reported on the outcomes of a workshop on natural capital accounting in the Himalayas. The workshop focused on assessing the contribution of forests to India’s economy, including valuing forest ecosystem services. In doing so, workshop participants discussed the re-positioning of forests within dialogues on green growth and transitions to a green economy.

During presentations, participants noted the challenges in overcoming the perception of forests as a hindrance to economic growth. With 66 percent of the land area of Himachal Pradesh, India under the management of the forest department, participants emphasized that the contribution of forests to hydropower and tourism needs to be made explicit in order to counter such misconceptions.

Emerging opportunities for improved accounting of the value of forests outlined during the workshop include the acceptance of the UN System of Environmental-Economic Accounting (UN SEEA) as a standard for accounting as well as the World Bank Programmatic Development Policy focus on the promotion of green growth. Furthermore, in Himachal Pradesh, WAVES, a coalition of UN and other organizations in support of Natural Capital Accounting (NCA), will foster forest valuation work. [WAVES Press Release] [Forest Accounts Workshop]