Belize Partners with Global Ocean Accounts Partnership for Ocean Accounting Pilot Project

To get a better understanding of the value of Belize’s marine resources, the government is partnering with the Global Ocean Accounts Partnership (GOAP) Secretariat for a pilot project on Ocean Accounting. The Ministry of Blue Economy and Disaster Risk Management signed a memorandum of understanding with the GOAP last week, for the new project. Under the agreement, various government departments and other actors in the blue economy sector will receive training on managing ocean data. Felicia Cruz, Director of the Blue Economy, explained that ocean accounting is vital for the government’s efforts to balance conservation commitments with preserving the livelihoods of people.

Felica Cruz, Director of Blue Economy, MBEDRM: “To simply put it, ocean accounting really focuses on understanding the environmental and economic value of resources, specifically within our ocean space and activities that are connected to it. For the blue economy, this is extremely important because we are looking at different approaches to ensure that our marine environment maintain some preservation, but at the same time we need to ensure that there is a balance for our developing society and we need to ensure that whatever conservation efforts we are applying, that there are benefits to the social aspects of our communities.”

Cruz said that the first training session under the project started last week and concluded today. She spoke about the various parties that will be involved in the project.

Felica Cruz, Director of Blue Economy, MBEDRM: “It’s really a concerted effort. The blue economy concept really embraces integration within all institutions that have some connection to our ocean space. And so we have our Ministry of Blue Economy that’s definitely there and our institutions like the Coastal Zone Management Authority and Institute, the Belize Fisheries Department. When we’re talking about data, we must also consider and involve our statistical institute of Belize, as well as our University of Belize considering their role and their mandate in terms of education and research. We also have representatives from the Blue Bond and Finance Permanence Unit which they play an integral role in ensuring Belize’s commitment to the Blue Bonds arrangement. We have the Hol Chan Marine Reserve that’s also a key player, especially considering that the pilot project is earmarked for Ambergris Caye. And of course we have the Ministry of Economic Development and our Ministry of Sustainable Development considering that these are areas in which we need to cooperate to ensure a brighter future for all of Belize.”

The project will also see the development of a Coral Reef Extent and Condition Account to assess the health of the reef at Ambergris Caye, and the creation of an Ocean Tourism Satellite Account.