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Global Ocean Accounts Partnership
Natural Capital Accounting in Laamu Atoll

Natural Capital Accounting in Laamu Atoll

Ocean AccountsSEEABig Ocean States (SIDS) Asia
GOAP

The Government of the Republic of Maldives is developing natural capital accounts through pilot testing of the SEEA Ecosystem Accounting (SEEA EA) framework in Laamu Atoll.

The Government of the Republic of the Maldives developed natural capital accounts through pilot testing of the System of Environmental Economic Accounting Ecosystem Accounting (SEEA EA) framework in Laamu Atoll, an ecologically sensitive and economically important area in southern Maldives.

Objectives The three-year project developed pilot natural capital accounts for Laamu Atoll to support the Global Environment Facility (GEF) project, ‘Enhancing National Development through Environmentally Resilient Islands (ENDhERI)’. This project aimed to expand knowledge of green growth development, social capital and mainstream the use of Natural capital accounting in decision-making. Natural capital accounts were developed according to the SEEA EA framework.

Throughout the project, training was provided for government ministries, government staff, university students and teachers. University courses were developed by Maldives National University (MNU) including for bachelor and Master’s students.

Partners

The pilot was implemented by the Global Ocean Accounts Partnership (GOAP) at the University of New South Wales, Fisheries Resource Center of Indonesia (Rekam Nusantara Foundation) and Maldives National University, under the directive of the Maldivian Ministry of Tourism and Environment. Fiscal support was provided by the United Nations Environment Program (UNEP).

Outcomes

Activities

November 2024 | Symposium and Technical Training | Male’, Maldives A three-day symposium on sustainable ocean development hosted by the Ministry of Climate Change, Environment and Energy (MCCEE), Maldives Bureau of Statistics (MBS), and the Global Ocean Accounts Partnership (GOAP) Secretariat. The event brought together experts from the Maldives and Australia to address ocean management and sustainable economic development through evidence frameworks, including ocean accounting.

The first day featured high-level presentations on Ocean Accounting implementation and streamlining international reporting commitments, alongside a parallel session focused on ocean health evidence for sustainable development. Students from Maldives National University participated through research presentations and a poster session. A closed ministerial meeting was also held to discuss a roadmap for Ocean Accounts implementation beyond the ENDhERI project.

The second day provided technical training on Ocean Accounts fundamentals and their application in policy, followed by a dedicated finance session exploring how Ocean Accounts can be leveraged to attract investment. Participants engaged in a practical exercise developing business cases for sustainable tourism ventures in the Maldives, with a specific focus on quantifying and valorizing the ecosystem services that support these businesses. The afternoon continued with sessions on data compilation and analytical tools for Ocean Accounting.

April 2024 | Site visits and workshops | Laamu Atoll and Male, Maldives The project team from Maldives National University, the Ministry of Climate Change, Environment and Energy (MCCEE), Blue Marine Foundation and the GOAP Secretariat assembled to ground-truth satellite data for seagrass and mangrove ecosystems at Laamu Atoll, while engaging and training local science and engineering students on seagrass motoring and natural capital accounting. Workshops were also held to build capacity among students in ecosystem mapping using Geographic Information System software and scientific writing.

The site visits were followed by a workshop in Male for government and university practitioners, where two sessions focused on (1) policy and finance initiatives for ocean accounting and (2) an introduction to ecosystem mapping using Geographic Information System software.

August 2023 | Site visits and ministerial update | Maldives The project team assembled in August 2023 to collect data on seagrass condition while engaging and training local students on seagrass monitoring and natural capital accounting. The team surveyed 22 sites and assessed 15 ground truthing points. The parameters monitored included sediment type, seagrass species, canopy height and percentage cover, macroalgae and epiphyte percentage cover, and associated fauna. Five distinct seagrass species were identified during the survey. MNU students gained hands-on experience in data collection, species identification and understanding the ecological significance of seagrass ecosystems.

The site visits were followed by a project update delivered to the Ministry of Climate Change, Environment and Energy (MCCEE), as well as related meetings to strengthen collaboration for natural capital accounting.

28 April 2023 | Preliminary report Based on the findings from the initial site visits, a ‘Preliminary survey of ecosystem extent and condition in Laamu Atoll, Maldives’ was prepared by MNU, the Fisheries Resource Center of Indonesia (Rekam Nusantara Foundation) and the GOAP Secretariat and submitted to the Ministry of Environment, Climate Change and Technology, Republic of the Maldives.

10 – 20 March 2023 | Inception visit | Maldives The initiative kicked off with a series of events, meetings and site visits in Male and Laamu Atoll. These included a workshop with key stakeholders to identify priority policy areas and ecosystems to perform SEEA Ecosystem Accounting; an NCA Public Lecture at the MNU to provide insights and knowledge for MNU students and foster interest in sustainable development and ecosystem management (especially through NCA and SEEA EA); meetings with national and sub-national government (local and atoll councils) representatives and non-governmental organisations to better understand inter-government relationships, data availability, challenges, and risks to compiling SEEA EA; and site visits to identify the appropriate methodologies for collecting data on ecosystem condition.

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Field visits to Laamu Atoll, March and August, 2023.
Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.
Meetings and workshops with Maldives National University, Rekam Nusatara Foundation and UNSW.

Media

FRCI | FRCI Delivered a Public Lecture on Ocean Accounts at the Maldives National University

Fisheries Resource Center of Indonesia on LinkedIn: #maldives #data #naturalcapitalaccounting #sdg14 #sustainabledevelopment…

ކަނޑާއި އައްސޭރިފަށުގެ މާހައުލީ ނިޒާމުތަކުން މުހިންމު ގިނަގުނަ ޚިދުމަތްތަކެއް ފޯރުކޮށްދޭ. pic.twitter.com/LNoCpvBRh2

— Min. of Environment, Climate Change and Technology (@MoEnvmv) March 9, 2023

Contacts

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