Background

Arctic Freshwater Capital in the Nordic Countries (CAPITAL) project (2016-2018) is a flagship project for the Finnish Presidency of the Nordic Council of Ministers. The project is an evaluation of the socio-economic benefits of the use and management of surface waters in northern / Arctic areas in the Nordic countries. The project builds on the previous Nordic Council of Ministers projects and reports about the valuation of ecosystem services and natural capital accounting. The project studies human environment interaction using water, environmental and ecosystem accounting, interviews and economic modelling. The project also explores how the EU Water Framework Directive (WFD) statistics can be used in integrated and innovative way through environmental accounting to help with decision making.

Objectives of the session

  • to get an overview on the status of the arctic freshwaters and their biodiversity and on their recent development
  • to describe ecosystem accounting and its relevance to the EU Biodiversity Strategy and to the Sustainable Development Goals
  • to present the findings from the CAPITAL project and
  • to discuss how this knowledge can best support decision making

Draft agenda

Arctic freshwater synthesis and state of the arctic freshwater biodiversity (Keynote)

Ecosystem accounting and SDG (Keynote)

Results of the CAPITAL project:

  • Insights about environmental accounting in Nordic countries
  • What kind of questions can be answered with water accounts
  • Trade offs between economy and environment

Synthesis, future perspectives and panel discussion