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Natural capital accounting describes efforts to use an accounting framework to systematically measure and report on the state or ‘health’ of natural capital and the contributions these assets provide society and the economy. This is also a critical tool for measuring the importance of nature to guide the sustainable development of the blue economy.  By quantifying these benefits in monetary terms, natural capital accounting can help decision-makers understand the trade-offs and impacts of different development scenarios and policies on the environment and human well-being. For example, by understanding and valuing the benefits of coral reefs, policymakers can identify and prioritise the most impactful investments in coral reef conservation and restoration programs. 

The Global Accounts Partnership (GOAP) Meeting in Costa Rica was an opportunity for global leaders, experts, donors and organizations to come together and advance sustainable ocean management through the development and implementation of ocean accounts. This video explains how ocean natural capital accounting supports the preservation and restoration of valuable natural resources that provide ecosystem services for human benefit. 

Under Output 2.1.2. 2 National integrated “State of the Marine Environment” (SOMEE) reports, 2 Blue Economy (BE) Scoping Studies and 1 Marine and Coastal Natural Capital Accounting pilot/enhancement, delivered by end of 2025; extraction and dissemination of lessons learned and recommended way forward, PROCARIBE+ will provide technical and Financial support to the advancement of Ocean Natural Capital Accounting in Costa Rica. 

Want to know how the oceans' natural capital is part of the foundation for achieving the social and economic SDGs? Stay tuned to this video as our regional coordinator, Patrick Debels, who recently attended the  Global Accounts Partnership Meeting in Costa Rica, explains key concepts on how ocean accounting supports the preservation and restoration of valuable natural resources that provide ecosystem services for human benefit. 

Thank you Global Accounts Partnership for advancing the use of this important tool in the Wider Caribbean Region. Notably at this meeting Ocean Coordination Mechanism Countries of Antigua and Barbuda, Costa Rica made pledges to advance Ocean Accounts by 2030 date. 

El Mecanismo de Coordinación Oceánica (MCO) ha sido oficialmente activado y comenzará sus actividades este año, marcando un logro significativo en el avance de la gestión sostenible de los recursos marinos de la región. 

A new collaboration between the PROCARIBE+ Project and Trinidad and Tobago’s Institute of Marine Affairs (IMA) has begun with the aim of improving coastal planning in support of the Blue Economy.

The Government of Saint Kitts and Nevis has signed the Memorandum of Understanding (MoU) of the CLME+ region’s Ocean Coordination Mechanism (OCM). 

The 15th Meeting of the “Interim Coordination Mechanism for the Sustainable Management, Use and Protection of shared Living Marine Resources in the Caribbean and North Brazil Shelf Large Marine Ecosystems” (in short, the CLME+ ICM) was held 20-21 August 2024 in Miami, Florida, United States of America.