The idea of putting an actual value to natural resources like water in economic terms is gaining traction with countries, but large corporations have also realised that natural capital accounting is “in their own interest”, said President Tharman Shanmugaratnam.
“Water doesn’t come from the tap. It comes from natural ecosystems... We’ve got to preserve the ecosystems, be they forests or wetlands, or ensuring we are not over-extracting from rivers or groundwater,” he said in a dialogue session on June 18, when the topic turned to how to price water correctly.
Incentivising the conservation of water and the ecosystems that produce water was a key message at the dialogue, which was held at the Lee Kuan Yew Water Prize 2024 award ceremony at The Fullerton Bay Hotel.
Natural capital accounting shows how natural resources contribute to the economy and how the economy affects natural resources.
It can provide a broader picture of development and economic progress than standard measures such as gross domestic product.
“Countries are now taking very seriously the mapping of their natural resources, their natural capital,” said Mr Tharman, who is also co-chair of the Global Commission on the Economics of Water.
Esta historia es de la edición June 19, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 19, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Krupnova brings positivity to Wondersticks and S'pore
While it has been only two weeks since Eliska Krupnova joined Singapore Floorball Premier League (SFL) side Wondersticks, the 2020 world's best female floorball player has lit up the league in more ways than one.
HER UNFINISHED BUSINESS
Belarusian Goutseva back to complete her artistic swimming vision for Singapore
Villa now in the big leagues, thanks to their manager
On The Ball | There are doubts about the new Champions League format, its extended group stage and \"Swiss model\" fixture list. Try telling that to anyone connected with Aston Villa, though.
REDS' WIN 'SPECIAL' FOR SLOT
Manager says it will let wife see a happy man, but warns of tough stretch ahead
Respectful Emery wary of United's winning mentality
Unai Emery praised the under-pressure Erik ten Hag on Oct 4 as the Aston Villa boss labelled Manchester United \"the best team in the world\" despite their dismal form.
ANGE FACES A 'CURIOUS' TEST BY HURZELER
Brighton boss, who asked 'many questions' on a day at Spurs in 2023, has 'inside info'
Pogba's 'nightmare is over' as ban cut to 18 months
French international footballer Paul Pogba said on Oct 4 that his \"nightmare is over\" after a four-year ban for doping was reduced to 18 months.
Blues need time to compete with City, Arsenal
Chelsea are improving but are not yet ready to compete with top English Premier League clubs like Manchester City and Arsenal, manager Enzo Maresca said on Oct 4.
Billie Jean King Cup to align with Davis Cup format
The Billie Jean King Cup Finals will transition to an eight-team event in 2025, from the current 12, to mirror the existing Davis Cup format, the International Tennis Federation (ITF) said on Oct 4.
Money talks to grow US rugby reportedly back on
Rugby union's governing body World Rugby has revived talks to raise funds for growing the sport in the United States, three people familiar with the matter said.