Caribbean Overseas Territories Natural Capital Accounting Programme

Fauna on a Caribbean beach

Title: Caribbean Overseas Territories Natural Capital Accounting Programme

Client: Darwin Plus

Year: 2021

Service area(s): Accounting for Natural Capital

Country/region: UK Overseas Territories (Anguilla, the British Virgin Islands, Cayman Islands, Montserrat and the Turks and Caicos Islands)

eftec team: Ian Dickie, Jake Kuyer, Natalya Kharadi, Sophie Neupauer, Georgie Conlan

About the project:

eftec, with Joint Nature Conservation Committee and the New Economics Foundation, are leading an exciting new programme of work in the Caribbean, funded by the UK Government through “Darwin Plus”. We work with local stakeholders to develop Natural Capital Accounting tools and practices that are aligned with the United Nations System for Environmental Economic Accounting (UN SEEA).

The work covers five UK Overseas Territories: Anguilla, the British Virgin Islands, Cayman Islands, Montserrat and the Turks and Caicos Islands. In particular, we train and work with their environment and statistics departments.

The accounts provide a framework for the collection and presentation of environmental and economic data, so that the value nature provides can be better understood. They also translate ecological and scientific data into economic terms, so that they are comparable with other economic data (such as GDP). This provides an evidence base to support environmentally and economically sustainable decision making, for example:

  • Effective decision-making on issues that are both dependent and impact on nature;
  • Investment in nature to enhance and sustain the value they provide;
  • Action on climate change, including mitigation, adaptation, and resilience to impact;
  • Delivery of international initiatives, such as the UN Sustainable Development Goals; and
  • A green post-COVID economic recovery, focusing on a sustainable tourism sector

The activities currently developing ecosystem accounting in the OTs will streamline annual data collection efforts and build capacity for the production and use of ecosystem accounts by governments and the private sector across the Caribbean to build resilient and prosperous societies.

To ensure the project has a lasting legacy we also undertake capacity building activities and set up professional networks in the five countries.

We’ll be reporting from the project again as outputs are published.