Development of Integrated Environmental and Economic Forest Accounts in Latvia

The purpose of the Project is to develop and test a National economic accounting system for the forest sector based on monetary values that allows integration of environmental concerns, with the overall objective of contributing to the sustainable development of forest sector in Latvia. Reference is made to the application dated 9 June 2008, and to any subsequent correspondence with the Focal Point. The completed Project shall include the following activities and results: 1. Transfer of best experience from Norway and other Northern European countries. 2. Economic account system development including: - evaluation of the current situation in view to create a base for forest sector statistics in Latvia, including a stakeholder needs analysis; - evaluation of best practices from Northern European countries; - development of an economic accounting system for the forest sector including environmental data; - implementation of a pilot system of calculation regarding the monetary values of forest and timber flows; - awareness raising activities for economic calculation of forests (education of stakeholders and specialists); - preparation of materials for the brochures, study books and CDs. 3. Project management and publicity. The Project Promoter is the Ministry of Agriculture for the Republic of Latvia. Subject to national law, the Project shall be implemented in partnership with Statistics Norway. The Focal Point shall ensure that the Project Promoter provides at least 15 percent of the estimated total eligible Project cost.