Climate idea
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We Don't Have Time

Climate idea

Recognizing a Nature Based Solution as Natural Assets for better financing, better environment management and purposeful

Water bodies are natural resources and conservation of water bodies are now being attempted across the globe to meet the challenges of worldwide water crisis. However, conservation of water bodies often become difficult due to conflicting priorities of urban development and non-availability of adequate funds for implementing conservation measures for wetland/waterbody. Setting up a revenue positive model for conservation of a waterbody can ease out the typical challenges faced for implementation of conservation measures.
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An asset is a resource that earns money for a statutory body, which is authorized for conservation and management of the property or commodity. Depletion of groundwater can now be monitored even by remote sensing. Soil carbon content can be estimated far more accurately than before. Treating wastewater by phytoremediation is now accepted as a sewage treatment technology. Accounting of cumulative costs of ecological goods and services, which are provided by any waterbody/wetland can be a source of income/savings for a municipal corporation/municipality. The wetland or waterbody, which is functioning as Nature Based Solution can also be declared as a natural asset. A cost-benefit analysis, possibly supported by WTP (Willingness to Pay) or WTA (Willingness to Accept) survey, may be helpful in finalizing the asset value. Management of natural assets shall be easier than conservation of a natural body. It will also be easy for fixing responsibility and accountability.
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Conservation of waterbody and wetland conservations often also face difficult challenges of complex ownership issues. Many parts of these wetland/ water bodies are under private ownership and implementing a waterbody/ wetland management plan by government/ municipal bodies in private land becomes difficult as private owners do not agree to the restrictions on use of their property, which are imposed for conservation of waterbody/ wetland. At times, government or municipal bodies try to address this issue by introducing rules and regulations and/or by providing compensations.
This word "compensation fund" should now be replaced with "gratuity fund." Taking any step for conservation of natural resources is going to benefit everyone at global as well as individual level. Governments may express gratitude in terms of financial incentives and need not compensate for perceived personal loss.
The sale price of a parcel of land/water area is usually perceived as the cost of happiness, comfort and wellness. Happiness and wellness, which are considered as very real yet quite abstract are now being analyzed and researched by diverse fron of academia: behavioral scientists, social scientists, psychologists, institutes like Happiness Research Insititute and many reputed Universities of the world. Setting the right perspective towards happiness is expected to be easier now. What is needed is aspiration management of individual private owners. Wealth creation is essential, but wealth creation does not necessarily always lead to wellness. Enabling the private owners to live a meaningful and healthy life may lead to a win-win situation.
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Considering the role of urban sponge, micro-cooling, soil carbon reserve and natural sewage treatment plant, adequate carbon financing should be made available so that use of land for wetland becomes price competitive for other uses like real estate development. Change of perspective under the green economy may lead to a breakthrough and collectively more purposeful living.

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  • Grace Njeri

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    44 w

    Preserving natural water systems is essential for protecting the environment and its biodiversity.

    5
    • DIPANJANA MAULIK

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      44 w

      @grace_njeri_804 Preservation and conservation need financial assistance.

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