Comprehensive coverage on environment
The natural capital accounting (NCA) method has been used in this report, to account for income and costs associated with natural resource used, based on a framework approved by the United Nations in 2012 called the System of Environmental Economic Accounts (SEEA). Why does natural capital matter for economic growth? . GDP only looks at one part of economic performance output but tells us nothing about income in the long term, thus is an incomplete assessment of country's economic wellbeing. For example, when a country exploits its minerals, it is actually using up its finite mineral wealth
A full picture of a country's wealth obtained through a methodology called 'wealth accounting' (including natural capital accounting) includes all assets that contribute to our economic wellbeing, from buildings and factory machines, to infrastructure, human and social capital, and natural capital. . Natural capital is especially important to many developing countries because it makes up a large share of their total wealth some 36 percent and the livelihoods of many subsistence communities depend directly on healthy ecosystems.
Currently GDP ignores natural capital. In forestry, for example, timber resources are counted, but forest carbon sequestration is not. Other services, like water regulation that benefits crop irrigation, are hidden and the value is (wrongly) attributed to agriculture in a country's GDP .Several countries are compiling natural capital accounts (NCA) to make economic decision making on natural resources an informed process. They want to use NCA as the basis for compiling indicators to monitor progress of sustainability policies
India is participating in the Natural Capital Accounting and Valuation of Ecosystem Services project. How are natural capital accounts used? .Support inclusive development and better economic management: For example, land and water accounts can help countries interested in hydropower to assess the value of competing land uses and find the optimal solution. .For Economic Growth: Ecosystem accounts can help biodiversity-rich countries manage the tradeoffs between ecotourism, agriculture, subsistence livelihoods, and ecosystem services like flood protection. In this way, ecosystem accounting is a tool for maximizing economic growth while identifying who benefits and who bears the cost of ecosystem changes, helping governments gauge whether their growth is inclusive
INCLUSIVE WEALTH REPORT Why in News? The inclusive wealth of one-third of the countries in the world has declined, but their gross domestic product (GDP) has increased, finds the Inclusive Wealth Report 2018 presented by the UN Environment. Highlights of the Report About the Index: The Inclusive Wealth Report is a biennial report that seeks to evaluate and report on a country's wealth and wellbeing through the Inclusive Wealth index (IWI) e IWI is intended as a replacement to Gross Domestic Product (GDP) and the Human Development Index (HDI) which assesses a nation's ability to look after its wealth in a way that is sustainable and safeguards its future generations.
Methodology: It does this through tracking the progress of 140 countries that make up the lion's share of the global economy and population. The changes in the inclusive wealth of 140 countries are calculated by annual average growth rates over the past 25 years, and 1990 is set as a base year.
. Inclusive Wealth and SDG: The report demonstrates that assessing and valuing natural capital and the change in per capita inclusive/comprehensive wealth over time has the potential to keep track of progress on most Sustainable Development Goals (SDGs). It considers the relationship between inclusive wealth and the SDGs, arguing that governments need to have a way to check whether or not the economic measures they take to meet the SDGs jeopardize the sustainability of the Goals.
Global Structure of Capital: AS of 2014 has composed of produced capital (21%), human capital (59% of which 26% education induced human capital and 33% is health induced human capital), and natural capital (20%). o. Growth rate: The global level growth of each of the three capitals over the study period indicate that produced capital was growing at an average rate of 3.8% per year and health and education induced human capital was growing at 2.1%. Contrary, natural capital was decreasing at a rate of 0.7% per annum
United Nations Environment Programme (UN Environment) It is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system, and serves as an authoritative advocate for the global environment. Its headquarters are in Nairobi, Kenya
Sources of Threats to Pollinators e Environment pollution: Pollutants in the air, water and land affect the physiology and behavior of the insects. o Anthropogenic factor like disturbance, degradation, fragmentation, shrinkage, and the loss of habitat Impact of introduced species: Alien invasive plants may impact negatively on insect biodiversity by changing habitat quality, outcompeting native host plants, and interrupting vital ecological interactions. Increase in mono-cropping: The transformation of agriculture from traditional mixed crop farming to high value cash crop farming has led to an increase in monocrop agriculture, resulting in reducing the food sources for natural insect pollinators. Forest fires: It destroy the habitat, food sources and pollinators nesting in the area. Honey hunting: An increase and ruthless hunting of the nests of wild honeybees is contributing to the decline in the population of indigenous honeybees
GREATER FLAMINGOES Context Greater Flamingoes have been spotted on the Coast of Hope Island, a part of the Coringa Wildlife Sanctuary, after a gap of 25 years. About Coringa Wildlife Sanctuary (CWLS): o It is situated in Andhra Pradesh near confluence of Godavari and Bay of Bengal and houses the second largest mangroves forest in India. The Hope Island, Kakinada Port and CWLS come within Coastal Circuit theme of Swadesh Darshan Scheme of Ministry of Tourism. Historically, Coringa has been a major port city which was used for the export of manpower during the time of British to Malaysia. The successors of those migrants are called Korangis there. About Greater Flamingoes These come under 'Least Concern' category of IUCN Red List. They prefer shallow brackish lakes & use mudflats & saltpans for nesting They are the indicators of healthy coastal environment. They are filter feeders (take prey and water together and then filter out water) and get their characteristic pink colour from their diet of brine shrimps and algae available in the coastal wetlands.