Kicking off an initiative that could redefine how we value and negotiate resources in the 21st century, key policy experts and opinion leaders met April 10 in Lima, Peru, for the first workshop of Global Footprint Network’s Ecological Creditor Initiative. World Bank representatives, policy experts and opinion leaders met with representatives from Global Footprint Network and the Community of Andean Nations to begin a series of workshops on the growing significance of biocapacity and its potential for competitive advantage in a resource-constrained world.
Today, only 20 percent of the world’s population lives in countries that are “ecological creditors,” meaning, they have more biocapacity than they consume. The initiative aims to find solutions that meet the increasing resource demands of our global society. Initially, it will convene leaders of ecological creditor countries to discuss their development strategies and natural-resource management practices. Through collaboration, ecological creditor countries can better secure the value of their natural reserves and build incentive for preserving those assets, a benefit both to their own citizens and and to the global economy that relies on these resources for development and human well-being.
The workshop in Lima was the first of a series of discussions and working groups that will be held this year. The workshops will explore game-changing ways to value biocapacity and develop strategic incentives for countries to maintain ecological reserves and minimize ecological deficits.
We believe these workshops can expand the conversation to include not only climate change but also other critical resource pressures. The intent is to lead negotiations down a more productive path, empowering all countries, whether they have ecological deficits or reserves, to implement aggressive sustainability policies.
Read Mathis’s article on Ecolgical Creditors in Australia’s WME Magazine