By BUUMBA CHIMBULU
ZAMBIA’S published Natural Capital Accounts have significantly influenced policy in the national planning process, says Ministry of Finance and National Planning acting Director of Development Planning, Richard Lungu.
Mr Lungu pointed out that the policy implications resulting from the integration of Natural Capital Accounting into the country’s Eighth National Development Plan (8NDP) 2022-2026.
He cited focusing on environmental sustainability and natural resources management as one of the results.
Mr Lungu said this during the Natural Capital Accounting Strategy and benchmarking consultative meeting in South Africa.
While there, he emphasised the need for Zambia to formulate a comprehensive national strategy on natural capital accounting.
“This strategy aims to facilitate better coordination and integration of efforts related to natural capital within the country,” Mr Lungu stated.
He also advocated for cooperation among both national and international institutions, as well as various stakeholders, to enhance investment and dedication towards producing credible and valuable natural capital accounts.
He believed that these capital accounts were essential for informed integrated planning, monitoring, and decision-making.
Mr Lungu highlighted the substantial progress made in mainstreaming natural resources into the nation’s development planning and economic accounts, supported by organisations like the World Bank and Worldwide Fund for Nature.
He commended efforts of the South African government in advancing Natural Capital Accounting and ecosystem services, emphasising the significance of recognising these achievements and leveraging them for Zambia’s benefit.
On the consultative meeting, he described them as a progressive step for Zambia, enabling knowledge sharing, experience exchange, and constructive engagement with stakeholders.
“These interactions are crucial for addressing various issues and advancing sustainable utilisation and management of Zambia’s natural capital, aligning with the 8NDP,” Mr Lungu said.
He underscored the importance of such meetings in establishing crucial linkages and partnerships essential for realising Zambia’s vision of prudent natural resource management.
