This year we’re celebrating World Ocean Day by acknowledging the services and benefits that oceans provide:
- habitats for countless species
- opportunities for human wellbeing
- carbon storage.
Natural capital accounts allow us to measure these services and benefits in detail. They also give us an understanding of the extent and condition of the ocean assets we share. And, from there, we can measure the impacts of restoration, conservation and, unfortunately, the degradation that is taking place.
Natural capital accounts can also help us understand if we are achieving the vital goal to protect 30% of global lands, waters and oceans by 2030 (30×30).
Want to know more about this in practice? Read about the work we’ve been doing in different oceans around the world, including:
- In 2022, we produced a natural capital accounting report for the Irish Government in Clew Bay, looking at the Irish seafood sector.
- In 2020, we undertook an Ocean Accounting Pilot for the Geographe Marine Park, Australia. You can download the Synthesis Report here.
- In 2019, we worked with Deakin University and The Nature Conservancy to examine past trends and potential future restoration options in two large metropolitan bays – Western Port and Port Phillip in Victoria. We found that AUD$100 million of ecosystem services could be generated from an investment of $8.5 million.