In 2017, the European Union initiated a project, “Natural Capital Accounting and Valuation of Ecosystem Services” (NCAVES) in 2017 to help nations advance the knowledge on environmental-economic accounting that can help in ensuring sustainable economic growth.
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The NCAVES Project is being implemented in five countries – India, Brazil, China, Mexico and South Africa - by the United Nations Statistics Division (UNSD), United Nations Environment Programme (UNEP) and the Secretariat of the Convention of Biological Diversity (CBD).
The Ministry of Statistics & Programme Implementation has taken up several initiatives under the NCAVES Project during the past three years.