Global Vision for Forests:
Forest Capital Index
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Global Vision for Forests: Forest Capital Index |
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With the increasing use of indicators there is a vital need for a universally accepted index of a country's forestry resources. To overcome this gap, the World Commission on Forests and Sustainable Development (WCFSD) has proposed developing a Forest Capital Index (FCI) which would facilitate the proper valuation of forest ecosystem services, a long overdue task. A realistic estimation of forest capital would require an elaborate database that would include an accurate estimation of forest area, characterization of vegetation, choice of ecological indicators to monitor and comparison of indicators. The challenge for the WCFSD was to determine an appropriate suite of indicators that would reflect these characteristics adequately and uniformly across countries so that the index itself becomes a potent tool for framing an international forest policy. It is hoped that it would aid in evaluating the progress of each nation in renewing and sustaining its stock of forest resources and treat international comparisons of forest decline more equitably than absolute measures of deforestation. The FCI would give comparable numerical indicators to assess whether the forest capital of a particular country, and indeed the world at large, has increased, stagnated or declined. The indicators have been classified into two categories. The first reflects the most basic characteristics of forests such as a nation's current forest area, biomass, biodiversity and so on. The second takes a more exhaustive look at factors like the age class of trees, leaf area index, soil fertility measures, soil organic matter content and so on. Condensing this suite of ecological indicators into one dimensionless number would offer a simple tool to compare the progress of countries. The WCFSD in collaboration with the Woods Hole Research Center has already initiated work toward estimating the variables that could constitute the FCI. An ingenious characteristic of the FCI is that many financially poor but forest capital rich countries like Russia, Brazil, Indonesia and the Democratic Republic of Congo will benefit significantly from a new system of credits that might evolve based on their forest capital. There would be recognition for these countries, which are classified as financially poor even though their forest wealth ultimately sustains all life on earth. Countries in the fortunate position of having ample forest cover would receive long overdue recognition of their global services. In fact, the system is designed so that all countries would benefit. The countries which do not have sufficient forest capital would receive an incentive to manage their scarce forest resources for posterity. And when the time comes for considering the role played by forests in preventing global warming, the FCI could be used as a guide to financially reward countries that protect or increase their forest capital. With newer agreements like the Kyoto Protocol—which provides mechanisms for reducing carbon dioxide emissions—coming into force, the value and role of forests as carbon sinks will provide enormous bargaining power to certain supposedly poor countries. It will also go a long way in bridging the omnipresent North/South divide in the arena of international environmental diplomacy by correcting some of the misconceptions about the rich and the poor. Furthermore, the FCI would also contribute to a world where the benchmark for progress is sustainability instead of developed and developing. [assessing the forest capital of countries]
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