At a more fundamental level, healthy ecosystems represent the foundation of economic activity and a prerequisite for achieving a green economic transition. Given this, it is essential that the economic value of these services are recognized, demonstrated and captured in the accounts and decision-making of governments, the private sector and consumers
The 'ProEcoServe' project assessed ecosystem services such as the provision of soil retention, shoreline protection, carbon sequestration and pollination, identifying almost US$1 billion of benefits in the four pilot countries of Chile, Trinidad and Tobago, South Africa and Viet Nam.
In green economies, natural capital is incorporated into measurement of societal progress and equity, and recognized and managed as a fundamental pillar of economic and human well-being.