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The project we describe here can serve as an example of how long-term investment in the restoration of natural capital (RNC) will benefit both developed and developing countries, with payment for ecosystem services as a key way to finance the restoration work. International investments in the Drakensberg project are being sought in emerging markets for carbon, water, and biodiversity credits—the so-called "umbrella ecosystem services." Food, water, energy, and income security for local people, however, remain top priorities. We argue that this kind of RNC project is a way to simultaneously pursue the objectives of the global conventions on Biodiversity, Climate Change, and Desertification arising from the United Nations Rio Summit of 1992, and to help meet the United Nations Millennium Development Goals for alleviating poverty.
Keywords: Drakensberg Mountains, global conventions, payment for ecosystem services, restoring natural capital, South Africa, sustainable development
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RNC Alliance: http://www.rncalliance.org Nature Valuation and Financing Network: http://www.naturevaluation.org/
Natural Capital Project: http://www.naturalcapitalproject.org
Working for Water Project: http://www.dwaf.gov.za/wfw/
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