India pioneers global plan to green economy

India will be one of two countries to pioneer "a global partnership that will fundamentally change the way governments value their ecosystems", World Bank President Robert B. Zoellick announced here on Thursday.

"We are here to do something that none has done before," Zoellick declared at a press conference on the sidelines of the Oct 18-29 UN biodiversity summit. That something is to ensure that countries take into account the services provided by their ecosystems - the value of the water stored underground because a forest allows more water to seep in, for example.

"This is a concept now widely accepted," Zoellick said. "Now we have to take the valuations provided by projects like TEEB (The Economics of Ecosystems and Biodiversity) to ministries of finance and government economic agencies around the world."

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