In Serbia, development planning processes and investment decisions do not yet systematically integrate the economic value of ecosystem services. Essential functions such as water regulation, flood protection, and biodiversity conservation often remain invisible in public budgets and spatial planning instruments.

This undervaluation of natural capital contributes to ecosystem degradation and reduced climate resilience, particularly in wetlands and protected areas. Limited data availability and the absence of methodologies adapted to the national context make it complex to integrate the value of nature into decision-making processes.

In line with the EU Green Agenda and national priorities, it becomes essential to build a solid methodological foundation to make ecosystem value measurable and integrable into public policies.

As part of the initiative “EU for Green Agenda in Serbia: Protecting and Investing in Biodiversity and Water for Enhanced Climate Resilience,” UNDP Serbia has initiated the development and application of a national methodology for the economic valuation of ecosystem services (EVES).

The project includes economic valuation studies in ten pilot areas to generate evidence on the economic value of ecosystems. The results will be translated into operational tools and guidelines to integrate ecosystem services valuation into development plans and biodiversity financing instruments.

The approach aims to strengthen evidence-based decision-making and improve the country’s climate resilience through greater integration between environmental policies, spatial planning, and financial instruments.

Etifor acts as the main technical partner, responsible for the methodological design and implementation of the economic valuation of ecosystem services in Serbia, under UNDP supervision and in collaboration with the Ministry of Environmental Protection.

We lead the entire technical pathway of the project:

• review of international EVES methodologies and development of a methodology adapted to the Serbian context
• conducting economic valuation studies in ten pilot areas
• production of ecosystem services profiles and valuation reports
• development of guidelines and a roadmap to integrate valuation into planning processes and financing mechanisms
• technical contribution to the Biodiversity Financing Plan to strengthen the economic case for biodiversity investments

We also carry out training activities for public decision-makers and stakeholders, support institutional consultations, and facilitate knowledge transfer to ensure effective adoption of the methodology.

Through this intervention, we contribute to making the value of nature visible in public accounts and development strategies, strengthening the country’s capacity to invest in climate resilience and biodiversity.