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6 September 2024

How do we measure ecosystems at risk?

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So many of our ecosystems are at risk, reflecting changes in biodiversity and ongoing decline in their condition. Assessing which ecosystems are at most risk is a vital task as it helps us understand where to prioritise investment and effort.

The assessment of which species are at risk has been a long-standing body of work embodied in the IUCN Red List of Species. This list is updated regularly to advise on which species are endangered, threatened or worse.

Fifteen years ago, researchers from two different domains – the ecological and the statistical – commenced work to organize data about ecosystems in structured and internationally agreed ways.

The ecological approach was to complement the IUCN Red List of Species and hence the IUCN’s Red List of Ecosystems (RLE) was born.

The statistical approach aimed to extend our understanding of the link between ecosystems and people and became embodied in the UN’s System of Environmental Economic Accounting -Ecosystem Accounting (SEEA EA).

Fifteen years later, both bodies of work are now recognised as international standards and underpin the headline indicators of the Kunming–Montreal Global Biodiversity Framework.

But do the two standards for measuring ecosystem risk connect?

This week, Nature published a paper titled ‘Synergies and complementarities between ecosystem accounting and the Red List of Ecosystems’, answering that question.

While both standards record changes in ecosystem extent and condition, the RLE analyses the magnitude of change in terms of the risk of ecosystem collapse and biodiversity loss while ecosystem accounting organises the information to analyse the changes as they affect people and the economy.

The researchers analyse the similarities and differences between the two standards, helping to paint a picture of the elements they have in common, with a focus on data and how it is used in both standards. For example, there is a great deal of consistency between the way the two standards treat ecosystem classifications, maps and condition variables.

The researchers argue that the two standards should not continue to be developed in isolation.

Instead, they say that finding pathways for co-investment in foundational data, and for knowledge-sharing between people and organisations who undertake risk assessments and accounting, will improve both processes and outcomes for biodiversity, ecosystems and people.

They also say that, in combination, the complementary roles of the RLE and ecosystem accounting can support emerging mechanisms for the private sector to measure risks, dependencies and impacts on biodiversity, such as the Taskforce for Nature-Related Financial Disclosures (TNFD).

Our Director, Carl Obst, was a co-author on the paper, contributing his expertise as the lead author and editor of the SEEA EA to the mix.

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Director

Mark Eigenraam

Mark has worked in natural capital accounting for over 20 years. He's helped develop environmental markets. And he's worked in academic institutions and government agencies at all levels.
Mark produced Australia’s first set of experimental ecosystem accounts. He also worked at the United Nations in New York on the System of Environmental-Economic Accounting (SEEA) – the international standard.
Mark advises organisations around the world in the application of natural capital accounting. He develops processes and systems that highlight nature-based risks and opportunities.
Mark has a Master of Commerce, Economics, from the University of Melbourne.
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DIRECTOR

Carl Obst

Carl is a global leader in natural capital accounting. He helps organisations around the world measure the benefits of nature.
Carl was the lead author of the System of Environmental-Economic Accounting (SEEA) – the international standard.
Carl has a background in national accounts, including five years as head of the Australian National Accounts with the Australian Bureau of Statistics. He uses natural capital accounting to help organisations make effective and sustainable decisions.
Carl has a Bachelor of Economics, Econometrics, from the University of New England (AU).
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Senior Economist

Daniel Whitaker

Dan is an experienced practitioner in economics, science, risk management and finance.
His expertise includes natural capital accounting, non-market valuation, nature- and climate-related risk analysis, sustainable finance, environmental-economic modelling and carbon and energy economics and accounting.
Earlier in his career, Dan worked as a sustainability and climate change consultant in PwC’s Risk Consulting team. He then held a position at the National Australia Bank, where he advised on financial and non-financial risk management. This included considerable work on climate risk scenario analysis.
In his role with IDEEA, Dan supports public and private sector organisations on the use of natural capital data in investment decision-making, risk management and economic analysis.
Dan holds a Master of Applied Economics and Econometrics from Monash University.
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Senior Economic Analyst

Lachlan Dawson

Lachlan is an adaptable, curious and details focused economist with a passion for sustainably managing Australia’s natural capital. His experience encompasses environmental economic accounts, carbon and biodiversity markets and economic modelling.
Prior to joining IDEEA Group, Lachlan worked as a Nature-Climate Solutions Manager with BirdLife Australia and as a Consultant in Environmental Economics with Marsden Jacob Associates.
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Economist

Ziggy Gelman

Ziggy is an experienced economist who is passionate about identifying the contribution that ecosystems have to our economy and society. In his role with IDEEA Group, Ziggy provides technical analysis of economic and environmental data and supports organisations to understand and integrate a natural capital approach into their operations.
Ziggy has experience in compiling accounts in Victoria, having worked on ecosystem accounts for urban Melbourne, the Great Ocean Road Coast and Parks, Victoria’s forests and Victoria’s marine and coastal region.
Prior to working at IDEEA Group, Ziggy worked with the Victorian Department of Energy, Environment and Climate Action. Ziggy has a Bachelor of Commerce (Economics and Finance) from the University of Melbourne.
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Research Analyst

Maria Angelopoulos

Maria ensures that our client work is accurate, timely and concise. Her broad-reaching research work underpins our natural capital approaches, especially in relation to mapping and collating existing policies and data, and identifying themes.
Maria previously worked as a Research Assistant for Melbourne University’s School of Ecosystem and Forest Sciences where she supported the review of the Montreal Process’ Criteria and Indicator framework on sustainable forest management in Victoria.
Maria holds a Postgraduate Diploma in Environment (Master level program) from the University of Melbourne.
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Implementation Support

Michelle Butler

Michelle is dedicated to understanding our clients’ needs and helping them to harness their data to achieve meaningful impact stories and actionable insights.
Her career is marked by a deep commitment to the Victorian landscape and over 30 years in public service, agriculture and the environment sector. Michelle has worked regionally in diverse roles in field science, advised landholders in revegetation and land management, trained teachers, property owners and Landcare facilitators in natural resource management, coordinated statewide grant, crowd-funded and market-based programs, and managed expert teams advising government on biodiversity issues.
Michelle has applied science, teaching and workplace training experience and qualifications.
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Head of Advisory and Solutions

Muheed Jamaldeen

Muheed is an economist who helps governments and companies value nature, natural hazards and climate risk, and use those values to make investment decisions. He leads IDEEA’s advisory practice, covering cost-benefit analysis, business cases, economic modelling and forecasting, ecosystem service valuation, input-output modelling and nature-related disclosure.
Muheed is focused on the interection between climate and nature, and has undertaken studies for both public and private sector clients applying advanced econometric modelling and spatial analytics to tackle some of Australia’s trickiest policy and strategy questions.
Prior to IDEEA, Muheed was a Director at Deloitte Access Economics, where he led the NSW land-use and infrastructure economics practice. Before that he was an Assistant Director at the Federal Treasury, and former Senior Economist at Oxfam. He holds a Master of Economics and a Bachelor of Economics (Hons) from Macquarie University.
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GIS Specialist

Daniel Vardon

Daniel manages IDEEA Group’s spatial data infrastructure, ensuring all geospatial datasets are standardised, catalogued and easily accessible across projects.
Daniel develops and maintains workflows that translate raw spatial data into accounts-ready formats for natural capital and environmental reporting. He is passionate about supporting natural capital accounting with high-quality spatial information and analysis.
Daniel has a Bachelor of Environmental Science from the Australian National University and is currently studying for a Master of Geospatial Science at RMIT.