INTEC experts highlight that natural capital contributes more than 10% of the national GDP and advocate for policies for its management.

SANTO DOMINGO. – The Dominican Republic's natural capital, comprised of renewable and nonrenewable resources from nature, according to World Bank development indicators, could reach up to 10% of the country's Gross Domestic Product (GDP), said environmental economist Víctor Gómez-Valenzuela, during the keynote address "Natural Capital of the Dominican Republic and Sustainability: Toward a Paradigm of Actionable Policies."  

Dr. Gómez-Valenzuela noted that these estimates do not include non-use values ​​(bequest value, existence value, among others), meaning that, in an economy highly dependent on natural resources and ecosystem services, such estimates underestimate the contribution of natural capital to wealth creation and social well-being.

“Natural capital is the foundation of our economy and our well-being. The big question is whether we harness it with a sense of sustainability and intergenerational equity,” the expert emphasized during the opening of the Permanent Seminar on Dominican Reality (SEMPER) of the Instituto Tecnológico de Santo Domingo (INTEC), which in this edition focused on the topic of natural capital.

In his welcoming address at the event, INTEC's Academic Vice-Rector, Arturo del Villar, emphasized that, from pioneering graduate programs such as the doctoral and master's degrees in Environmental Sciences, to the applied research of its academics, the university always seeks to generate knowledge for action.

"We understand that managing natural capital requires a holistic vision that integrates environmental management, combating climate change, and conserving our invaluable biodiversity," said del Villar.

Meanwhile, INTEC's Director of Research, Carlos Sanlley, stated that the university is holding the Semper Conference with the goal of continuing to provide solutions to problems affecting the country and the world. "We are going to discuss the topic of natural capital, the value we place on our natural resources, and the ecosystem services they provide," he said, noting that, after the roundtable discussions, the university will publish a document of conclusions and proposals that will be delivered to decision-makers.

Likewise, Iván Cruz, director of the Financial Mechanism of the Vice Ministry of Climate Change of the Ministry of the Environment, welcomed the organization of the event, noting that "it was vital to have a scientific and academic foundation that allows us to make better public policy decisions regarding natural capital management."

The experts convened by INTEC called for attention, regulation, and management of natural capital, which is endangered due to the effects of climate change and human actions.

Nature as the basis of the economy and well-being

Gómez-Valenzuela emphasized that marine and coastal ecosystems are key to the sustainability of tourism, one of the country's main sources of foreign currency, and represent approximately 20% of tourism's contribution to GDP, estimated at around USD 9 billion in 2024.

He cited, for example, that coral reefs support the beaches that attract millions of visitors each year, and that humpback whale tourism in Samaná generates a direct local economic impact of around $10 million during whale season. 

He added that the National System of Protected Areas, which covers 25% of the country's territory, provides essential services such as water, clean air, and biodiversity, with a contribution equivalent to 4.3% of GDP, of which approximately 80% corresponds to the water supply service of the country's main watersheds.

From an extractivist model to a transformational one

One of the central points of his speech was the need to overcome the classic extractivist logic, which depletes resources without guaranteeing lasting benefits.  In the case of mining, he argued that "sustainable mining is not measured by what it extracts, but by what it leaves behind for society," he emphasized.

Along these lines, he urged converting natural resource revenues into productive assets that strengthen society's wealth portfolio through interaction with other capital sources such as social capital, constructed capital, and investment in talent, science, and technology.

Thematic panels

Following the keynote address, the panel "Public Policies, Institutional Architecture, and Economic Instruments for Natural Capital Management" was held, moderated by Ulises Jáuregui-Haza, a research professor at INTEC, with the participation of Rosa Rijo, Senior Manager of Sustainability at the Popular Savings and Loan Association; Sara Victoria González, Technical Director of the National Council for Climate Change and the Carbon Market; Luis Ortega, an economist with more than 30 years of experience in planning and public policy; and Pierre Candelon, UNDP Sustainability Program Officer in the country.

A second panel on "Transition Toward Development Models Compatible with Ecological Sustainability and Intergenerational Equity," moderated by Dr. Solhanlle Bonilla, Director of Research and Environmental Economics at the Ministry of Environment and Natural Resources and a research professor at INTEC, included Víctor Viñas, Technical Director of Hispano Dominicana de Consulting International; Sixto Incháustegui, former Director of the School of Biology at the Autonomous University of Santo Domingo (UASD); Ian Abud, Technical Consultant at the Governor's Advisory Office of the Central Bank; and Santa Rosario, Executive Director of the Loma Quita Espuela Foundation.

The event was sponsored by Seaboard, the Ministry of Environment and Natural Resources, Biofin, Nestlé, the United Nations Development Programme (UNDP), and the Cibao Association.

INTEC's Permanent Seminar on Dominican Reality (SEMPER) began in 2004 with the goal of contributing to Dominican society through academic analysis of the country's fundamental problems. Through this seminar, INTEC fosters an exchange between leaders, experts, and decision-makers to propose creative, innovative, and viable solutions.

Throughout its history, SEMPER has contributed to debate and solutions on issues such as the restructuring of the Dominican economy, corruption as a social phenomenon, food safety, and the energy transition, among others.