The awareness of SEEA continues to grow, as highlighted in this recent article from the World Economic Forum that talks about the role of natural capital accounting in driving better environmental, economic and social outcomes.
Biodiversity is declining faster than at any other time in history, a decline that must be addressed through the implementation natural resource management principles.
The intrinsic value of natural assets and the services they provide is not recognized by economic systems, and this contributes to the mismanagement of natural resources. Integrating nature into economic decision making means basing economic decisions on an inclusive measure of wealth, based on human, produced, and natural capital, thereby incorporating ecosystem extent and quality into central government decisions.
With 2021 hailed as a ‘Super Year’ for the environment, it is becoming increasingly clear that national governments should commit to using the United Nation’s System of Environmental Accounting (SEEA), as the internationally-agreed statistical framework to increase the spread and depth of natural capital accounting around the world.