Wealth Accounting and the Valuation of Ecosystem Services (WAVES)

Wealth Accounting and the Valuation of Ecosystem Services (WAVES) is an initiative that seeks to recognize and incorporate the value of natural resources and ecosystems into national accounts. It emphasizes that nature provides vital services, like clean air, water, and biodiversity, which contribute to economic well-being. By measuring and accounting for these ecosystem services alongside traditional economic indicators, WAVES helps governments make better decisions regarding resource management, ensuring sustainable development that balances economic growth with environmental health. Ultimately, it aims to reframe how we view wealth by including nature's contributions to our prosperity.