Forest Accounts and Natural Capital Accounting
EFIMED is collaborating with experts from across the globe to develop new tools for Forest Accounting, as part of the Wealth Accounting and Valuation of Ecosystem Services (WAVES) global partnership.
The development of an ecosystem accounting framework in the System of Environmental-Economic Accounting (SEEA) is line with increasing interest in better understanding the ongoing changes in the world’s ecosystems, as well as in conceptualising, analysing, modelling and valuing ecosystem services.
EFIMED started working on environmental accounts and their relation to forests through participation in the EXIOPOL and CREEA projects. In CREEA, EFIMED led work on forest accounts where the System of Environmental-Economic Accounting (SEEA) 2012 CF for forest accounts was revised and tested through various case studies. The SEEA contains the internationally agreed, standardised concepts for producing comparable statistics on the environment and its relationship with the economy.
EFIMED is now collaborating with the Wealth Accounting and Valuation of Ecosystem Services (WAVES) global partnership in the development of a Sourcebook on forest accounts. The Sourcebook will help to guide countries that are already compiling or willing to compile forest accounts.
WAVES aims to promote sustainable development by ensuring that natural resources are included in the development and planning of national economic accounts. The current system, Gross Domestic Product (GDP), only looks at income to measure economic performance. The proposed Sourcebook will update the Forest Accounting Manual published by FAO in 2004 using the current System of Environmental-Economic Accounting (SEEA) 2012 methodology.
Read the full article on Forest Accounts and Natural Capital Accounting on the EFIMED In Focus page.
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