As world leaders met at the Rio+20 summit in June, WWF released a report on the green economy that offers sustainable solutions for the planet at the largest UN event.

The report The Heart of Borneo: Investing in Nature for a Green Economy is a practical guide on how future economic growth can be achieved, while protecting the ecosystem values and biodiversity of the Heart of Borneo - a 220,000 km2 area, home to unique but endangered flora and fauna on the world's third largest island.

The report, compiled by WWF's Heart of Borneo Initiative program and its partners, highlights the environmental costs and lost revenues in today's economy and seeks to demonstrate that the value of natural resources underpins the stability and long-term development of local economies in Borneo.

"The HoB's natural resources are of immense economic and social value - but if we remain unaware of their value, communities that depend heavily on nature will suffer," said Jim Leape, Director General of WWF-International.

"This report finds that valuing natural resources can pave the way for strengthening local economies, as well as prioritizing growth, climate change and sustainability in the region," he continued.

Fostering more sustainable business

The report highlights the current unsustainable practices of the forestry, oil palm and mining sectors in Borneo, and shows that the erosion of natural resources is leading to a corresponding loss of viability of long-term economic and social well-being.

"These sectors are vital to Borneo's economy, but they must embed sustainability into their practices to keep the engines of growth running in the future," according to Adam Tomasek, WWF Heart of Borneo Initiative Leader.
According to the economic demonstration, featured in the report, under a Business-as-Usual (BAU) scenario, by 2020 the environmental costs of economic growth are expected to outweigh the revenues from the use of natural capital.

""Globally, we have witnessed several times how mismanagement of the world's financial capital causes long-term damage to countries. The same will happen in Borneo if we mismanage its natural resources - and that damage will be measured as 'generations of suffering',"" said Tomasek.

"The irony of this is that unlike the financial crisis where imposed austerity packages were seen to be unacceptable, especially for the poor - a shift to valuing natural resources could actually improve the lives of the poor and vulnerable in Borneo," he continued.

The report reveals two options for utilizing the vast wealth of natural resources in the Heart of Borneo (HoB): use them extravagantly or keep them in the 'bank', which will lead to many generations living forever deprived of 'interest', in the form of sustainable goods and services. This identifies that a key enabling condition is a shift to an economic infrastructure where fiscal policies and subsidy allocations support sustainable practices and ecosystem service management.

Rio+20 Summit

The report Heart of Borneo: Investing in Nature for a Green Economy was released on June 20, 2012 by WWF-International's Director General, Jim Leape, at a high-level event hosted by Indonesian President Susilo Bambang Yudhoyono. The President of Guyana, the Prime Minister of Norway and officials from the UN Secretary-General's office, as well as ministers and other senior officials were also in attendance.

The findings and recommendations of this report were incorporated into several events at the Rio+20 Summit. A supporting website (www.hobgreeneconomy.org) provides a 'window' to the world for green development activities in the HoB.

According to Jim Leape, "This report shows how Brunei, Indonesia and Malaysia are continuing their cooperation in the HoB to develop and implement green economy aspirations. By investing in nature, they can clearly demonstrate how to deliver these aspirations within the Rio+20 Summit vision of 'the future we want'."

For more information, please contact:

Adam Tomasek,
WWF Heart of Borneo Global Initiative, Leader

Tel: +62 21 7829461 ext. 422,
Mobile: +62 811 9917855,
E-mail: atomasek@wwf.or.id

Chris Greenwood,
WWF Heart of Borneo Global Initiative, Communications Manager
Tel: +60 88 262 420,
Mobile: +60 128281214,
E-mail: cgreenwood@wwf.org.my