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NATURAL CAPITAL

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variability of living organisms from all types of ecosystems. Landscape approaches integrate management of land, agriculture, forests, fisheries and water at local, watershed and regional scales to ensure that synergies are captured. Exclusive economic zones—referred to in the preamble to the United Nations Convention on the Law of the Sea Treaty (1982)—are defined as waters that are 200 nautical miles or less from the coastline of a sovereign state. Within these areas, the state has exclusive economic rights concerning management of all natural resources. Projections vary widely, depending on assumptions about recycling and the move from paper to electronic communication formats. In the case of aquifers, in which the actual recharge rate is negligible, water can be considered as a nonrenewable resource. A study of China estimates the annual environmental cost of the depletion of nonrechargeable groundwater in deep freshwater aquifers to be on the order of 50 billion yuan (World Bank 2007b). Dead zones are areas in which oxygen concentrations are less than 0.5 millimeters per liter of water. These conditions usually lead to mass mortality of sea organisms. Nethope is a Kenya-based organization that brings together 33 nongovernmental organizations, with the mission of improving connectivity and access to information. EU farmers receiving direct payments must respect mandatory cross-compliance provisions, which require them to fulfill the requirements of 19 European legislative acts related to the environment, public and animal health, pesticides, and animal welfare. Farmers who do not comply face partial or total withdrawal of their Single Farm Payment. Beneficiaries of direct payments must also keep their land in good agricultural and environmental condition. The Nagoya Protocol on Access and BenefitSharing is an international treaty that aims to develop greater legal certainty as well as transparency for providers and users of genetic resources. The protocol covers the use of genetic resources (covered by the Convention on Biological Diversity) and the traditional knowledge that is associated with it. Its objective is for both parties to

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acknowledge and respect their reciprocal obligations. The evidence on the role of forests in regulating water flows and floods is mixed, as Vincent (2012) notes. The evidence that forests mitigate large floods is scant, and it appears that their effect on low flows can go in either direction, depending on the balance between infiltration and evapo-transpiration. REDD stands for “reducing emissions from deforestation and forest degradation.” To this, REDD+ adds conservation, sustainable management of forests, and enhancement of forest carbon stocks. This section does not address nonrenewable natural capital from subsoil assets (fossil fuels), which are dealt with in other chapters. The BioCarbon Fund, housed within the World Bank’s Carbon Finance Unit, is a public-private initiative mobilizing resources for pioneering projects that sequester or conserve carbon in forest and agro-ecosystems, mitigating climate change and improving rural livelihoods. The mechanism, defined in Article 12 of the Kyoto Protocol on Climate Change, allows a country with an emission-reduction or emission-limitation commitment under the 1997 Kyoto Protocol (mostly high-income countries) to implement an emission-reduction project in developing countries. Such projects can earn saleable certified emission reduction credits, each equivalent to one tonne of CO2, which can be counted toward meeting Kyoto targets. Chile had the highest human development index of all South American countries in 2010 (UNDP 2010).

References Agardy, T., Hicks, F., and A. Hooten. 2011. “ Komo do C ol l ab orat ive M a n a ge m e nt Initiative.” Evaluation Report, International Finance Corporation, Washington, DC. Ali, D. A., K. Deiniger, and M. Goldstein. 2011. “Environmental and Gender Impacts of Land Tenure Regularization in Africa: Pilot Evidence from Rwanda.” Policy Research Working Paper, World Bank, Washington, DC. Aylward, B., K. Allen, J. Echeverria, and J. Tosi. 1996. “Sustainable Nature-Based Tourism in

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Inclusive Green Growth  
Inclusive Green Growth  

As the global population heads toward 9 billion by 2050, decisions made today will lock countries into growth patterns that may or may not b...