Nearly all types of natural capital—the world’s stock of resources provided by nature—are in decline. The ecosystem services that flow from those natural capital assets – such as fertile soils for crops, rich ocean life supporting tourism and productive fisheries, and dense forests for carbon capture – are necessary for life on Earth.
Recognizing the essential services provided by natural capital, Nature’s Frontiers: Achieving Sustainability, Efficiency, and Prosperity with Natural Capital proposes a novel approach to address these foundational challenges of sustainability. A methodology combining innovative science, new data sources, and cutting-edge biophysical and economic models builds sustainable resource efficiency frontiers to assess how countries can sustainably use their natural capital in more efficient ways. The analysis provides recommendations on how countries can better utilize their natural capital to achieve their economic and environmental goals.
Join us for a presentation from the authors and a panel discussion on the country-level applications of this work.
Anna Wellenstein, Regional Director for Latin America and the Caribbean, World Bank
12:25 -12:45pm
Overview Presentation
Steve Polasky, Professor of Ecological/Environmental Economics, University of Minnesota and The Natural Capital Project
Peter Hawthorne, Natural Capital Insights
12:55-1:30pm
Panel Discussion
Moderator: Mary Ruckelshaus, Natural Capital Project
Carl Folke, Chair of the board and co-founder, Stockholm Resilience Center, director of the Beijer Institute of Ecological Economics of the Royal Swedish Academy of Sciences
Adrian Vogl, Lead Scientist, Natural Capital Project/World Bank
Julie Rozenberg, Senior Economist, World Bank
Juha Siikamäki, Chief Economist, International Union for the Conservation of Nature
Giovanni Ruta, Lead Environmental Economist, World Bank
1:30-1:50pm
Moderated Q&A with audience
1:53 -2:00pm
Closing Remarks
Valerie Hickey, Global Director for Environment, Natural Resources and Blue Economy, World Bank
Carl Folke is Director of the Beijer Institute of the Royal Swedish Academy of Sciences and Founder and Chair of the Board of the Stockholm Resilience Centre, Stockholm University. His research on the resilience of people and nature, show how progress, prosperity and wellbeing will benefit from reconnecting development to the biosphere. Carl has a long record of science, policy, and practice collaboration and is engaged in the arts-science interface. Books include Investing in Natural Capital (1994), Biodiversity Loss (1995), Navigating Social-Ecological Systems (2003), Principles of Ecosystem Stewardship (2009), and Water Resilience for Human Prosperity (2014). Awards include the Heineken Prize for Environmental Sciences, the Oceanographic Institute of Monaco’s Grand Medal Albert I in Science, the Gunnerus Sustainability Science Award, and the Planet and Humanity Medal. Carl is elected member of the Royal Swedish Academy of Sciences and the U.S. National Academy of Sciences.
Peter Hawthorne is the head of Hawthorne Spatial, an independent consultancy specializing in environmental modeling, decision support, and spatial optimization. Previously he was a lead scientist with the Natural Capital Project, where his work focused on developing approaches to modeling and improving co-benefits in environmental decision-making, including through optimization and policy analysis. He holds a BA in mathematics from Harvard University and a PhD in ecology, evolution, and behavior from the University of Minnesota.
Valerie Hickey is a Global Director for Environment, Natural Resources and Blue Economy (ENB) at the World Bank. Prior to that she was a manager for Advisory and Operations in the Climate Change Group, where she oversaw the implementation of the World Bank’s commitments on climate change, climate mainstreaming and climate finance, and before that the Practice Manager for ENB in Latin America and the Caribbean where she managed a cross-sectoral team that supported countries and communities on issues related to climate change, sustainable forest management, integrated conservation and development, integrated coastal zone management, fisheries, pollution management and environmental health, environmental economics and environmental risk management. Nineteen years ago, Valerie joined the World Bank as a specialist in East Asia and the Pacific, working on environment and rural development projects in Cambodia, China and Lao. Valerie has since worked across the Bank’s regions providing design and implementation support to a variety of operations, including in fragile states, where she led the Bank’s environment portfolio in Haiti following the earthquake in 2010. After joining the World Bank's global team, Valerie became chair of the blue economy, biodiversity and wildlife crime communities of practice and convened the Bank’s deep technical expertise in pursuit of providing policy advice and implementation support to accelerate the role of natural resource management in getting people out of poverty and into the middle class. Valerie also managed the Bank’s natural resources and environment risk management portfolio across Europe and Central Asia. Before joining the World Bank, Valerie worked for World Wildlife Fund, Wildlife Conservation Society and the US National Park Service where she worked on invasive species programs in Lake Mead, the reservoir to the Hoover Dam. Valerie holds a Ph.D. in Environmental Science and Policy from Duke University.
Stephen Polasky is Regents Professor and Fesler-Lampert Professor of Ecological/Environmental Economics at the University of Minnesota. His research focuses on issues at the intersection of ecology and economics, including the value of ecosystem services and natural capital, biodiversity conservation, land use, sustainability, common property resources, and environmental regulation. Polasky is a co-founder of the Natural Capital Project, a collaborative initiative between Stanford University and the University of Minnesota. He has served as senior staff economist for the environment for the President’s Council of Economic Advisers. He was a coordinating lead author for the Global Assessment of the Intergovernmental Science–Policy Platform on Biodiversity and Ecosystem Services. He is a member of the US National Academy of Sciences and a fellow of the Association of Environmental and Resource Economists, the American Academy of Arts and Sciences, and the American Association for the Advancement of Science. He holds a PhD in economics from the University of Michigan.
Julie Rozenberg is a Senior Economist in the office of the Regional Director for Sustainable Development in Latin America and the Caribbean. She focuses on the link between development policy and climate change adaptation and mitigation policies, working with countries on building more sustainable, resilient, and inclusive growth trajectories. She currently coordinates World Bank core diagnostics on development and climate change (CCDRs) in the LAC region, and she recently published a flagship report on resilience in the Caribbean: “360o Resilience: A guide to Prepare the Caribbean to a New Generation of Shocks” which provides a diagnostic and a roadmap for building resilience to climate change in 17 Caribbean countries. In previous positions, she contributed to World Bank flagship reports on climate change (“Shockwaves”, “Decarbonizing Development”, “The Adaptation Principles”) and co-led two major reports on infrastructure: “Beyond the Gap: how countries can afford the infrastructure they need while protecting the planet” and “Lifelines: the resilient infrastructure opportunity”. Julie is the author of dozens of research papers, an editor for Wires Climate Change, and a member of the leadership committee of the Society for Decision Making Under Deep Uncertainty. Julie Rozenberg holds an engineering degree from ENSTA ParisTech and a PhD in economics from EHESS in Paris.
Mary Ruckelshaus is executive director of the Natural Capital Project and a senior research associate at Stanford University. She previously held leadership positions with the US National Oceanic and Atmospheric Administration and served as assistant professor of biological sciences at Florida State University. Her recent work has been devoted to developing standard approaches to valuing nature and mainstreaming the results into high-leverage decisions globally. Ruckelshaus was a lead author and reviewer for the 2013 and 2017 US National Climate Assessments. She has served on many boards and is past chair of the Science Advisory Board of the US National Center for Ecological Analysis and Synthesis. She holds a master’s degree in fisheries and a doctoral degree in botany from the University of Washington.
Giovanni Ruta is lead environmental economist in the Environment, Natural Resources and Blue Economy Global Practice at the World Bank, East Asia and Pacific region, where he coordinates the operational and analytical agenda on green growth, climate change, biodiversity, and natural resource management. He joined the World Bank in 2001 and has worked on the economics of sustainability, green growth, and natural capital accounting. He has experience working on projects in East Asia and the Pacific, Latin America, and Africa. Ruta holds a master’s degree in environmental economics from University College London and a PhD in environmental and natural resource economics from the London School of Economics and Political Science.
Juha Siikamäki is Chief Economist of International Union of Conservation for Nature (IUCN), leading IUCN’s work in economics globally. He has more than 20 years of experience working on different aspects of the economics of nature, recently especially on natural capital accounting and valuation and nature-based solutions. He is a member of the Editorial Board and Technical Committee of the System of Environmental-Economic Accounting Ecosystem Accounting (SEEA EA), adopted in 2021 by the UN Statistical Committee as an international statistical standard. Prior to joining IUCN in 2017, and starting 2004, he worked at Resources for the Future (RFF), most recently as Associate Research Director and Thomas J. Klutznick Senior Fellow. He has research experience also from academia and private and public sectors. He has worked geographically broadly, including in Africa, Latin America and the Caribbean, China, United States, Europe, and globally. He has published in a wide range of leading journals, including in economics, econometrics, ecology, and general interest science. He has a Ph.D. and M.S. from the University of California at Davis and M.S. from University of Helsinki.
Adrian Vogl is a lead scientist for Stanford University’s Natural Capital Project and a consultant with the World Bank. Her work engages researchers, policy makers, and civil society groups worldwide, advancing the science and practice of nature-based solutions for water security. Her focus is on how land management affects water and other ecosystem service co-benefits, particularly in the face of changing and uncertain climatic conditions. At the World Bank, Vogl co-leads the Biodiversity, Ecosystems, and Landscape Assessment initiative, working with policy makers, technical staff, and consultants to produce analytical tools and build capacity for integrated landscape management with the goal of enhancing the durability of investments in infrastructure, agriculture, and the environment. She holds a BA in cultural anthropology from the University of Arizona and a PhD in aquatic resources from Texas State University-San Marcos.
Anna Wellenstein is the Regional Director for Latin America and the Caribbean in the World Bank’s Sustainable Development Practice Group. Ms. Wellenstein is responsible for the World Bank’s agriculture, climate, disaster risk management, environment, land, social, urban, and water portfolios in the region. Prior to this, Ms. Wellenstein was Director for Strategy and Operations of the World Bank’s Social, Urban, Rural and Resilience Global Practice, where she oversaw $25 billion in lending to developing countries in over 200 projects, 325 studies and technical assistance projects. She was a key member of the Global Practice’s senior management team that set strategy for analytics and financing in areas such as disaster risk reduction, urban renovation, and geospatial technology. She also oversaw partnerships with bilateral, United Nations, and regional organizations. Ms. Wellenstein has over 20 years of experience in urban development and infrastructure. She has led efforts to design and finance investments, facilitate policy reforms, and build capacity to help developing countries reduce poverty and boost equity. She has been responsible for technical oversight of new projects financed by the World Bank, the portfolio quality of ongoing projects, and setting sector and country strategies. She has developed strong partnerships with governments in countries ranging from large middle income to small island states, as well as development agencies and academia.
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