It is very encouraging to see the release of the Australian national ecosystem accounts by the Australian Bureau of Statistics (ABS).
The work establishes a clear milestone for further measurement work both by the ABS and by the many other ecosystem accounting experts working in different locations and regions around Australia.
The work also helps Australia to keep pace with the many other countries around the world who are releasing and developing ecosystem accounts. As of 2024, there are 94 countries producing accounts using the System of Environmental Economic Accounting (SEEA) with around half of those compiling or developing ecosystem accounts.
The IDEEA Group team looks forward to supporting a co-ordinated program of work on ecosystem accounting in Australia and communicating the importance of putting nature on the balance sheet to drive investments in natural capital.