25 stakeholders gathered today to discuss the findings of the “Economics of Ecosystems and Biodiversity (TEEB) for Sustainable Land Management (SLM) in Georgia” study.
The study commissioned by the United Nations Environment Programme (UNEP) and REC Caucasus was released last week and provides scenario analysis and valuation of the benefits of SLM in terms of improved agricultural productivity and ecosystem services within the scope of application of TEEB for Agriculture & Food approach.
“The high value of carbon sequestration from SLM highlights the need for financing mechanisms to incentivise farmers to realise these global societal benefits,” notes Jacob Salcone, the Program Management Officer at UNEP and keynote speaker for the TEEB study workshop.
The report focused on reviewing the results of Cost-Benefit Analyses to assess the economic performance of investments in Sustainable Land Management in 4 pilot municipalities of Georgia – Gori, Kareli, Sagarejo and Kvareli. The study site covered 590,000 ha of land where unsustainable farming, overgrazing, excessive logging and landscape fragmentation have hampered the land’s ability to sustain livelihoods and maintain essential ecosystem services, such as supplying water and trapping carbon.
“The Economics of Ecosystems and Biodiversity (TEEB) Georgia” -Valuation study was prepared within the Global Environmental Facility (GEF) funded project “Generating Economic and Environmental Benefits from Sustainable Land Management for Vulnerable Rural Communities of Georgia”. The project is initiated by the Ministry of Environmental protection and Agriculture of Georgia, implemented by UNEP with the support of REC Caucasus.