Natural capital accounting for integrated climate change policies

The System of Environmental-Economic Accounting (SEEA) can inform climate change policies by providing a framework for measuring and accounting for the economic value of natural resources. It can help policymakers prioritize investments in sustainable infrastructure and promote environmentally friendly practices.

Format: Paperback / softback
Length: 62 pages
Publication date: 28 February 2021
Publisher: United Nations

This publication explores the role of natural capital accounting, particularly the System of Environmental-Economic Accounting (SEEA), in informing climate change policies. Specifically, it aims to provide guidance to policymakers at various levels, responsible for crafting or implementing climate change policies, encompassing mitigation, adaptation, and disaster response strategies. Moreover, the report includes illustrative case studies to showcase how the SEEA can enhance the effectiveness of climate change policy in achieving the objectives of the Paris Agreement.

Natural capital accounting, as a framework, recognizes the value of natural resources and ecosystems, including their contribution to human well-being and economic activities. By incorporating the concept of natural capital into economic decision-making, policymakers can better assess the trade-offs and costs associated with different policy options.

The SEEA, in particular, provides a comprehensive approach to accounting for natural capital, including its stocks, flows, and embedded values. It encompasses a wide range of natural resources, such as land, water, forests, fisheries, and minerals, as well as ecosystem services such as air pollution control, climate regulation, and biodiversity preservation.

One of the key advantages of natural capital accounting is its ability to provide a holistic view of the economy and the environment. It enables policymakers to consider the interdependencies between different sectors and the potential impacts of climate change on natural resources and ecosystems. This information can help policymakers prioritize actions that promote sustainable development and reduce environmental degradation.

Furthermore, natural capital accounting can assist policymakers in identifying cost-effective solutions to climate change. By accounting for the environmental costs and benefits of different policy options, policymakers can make informed decisions that balance economic growth and environmental protection. This can help ensure that climate change policies are socially equitable and do not disproportionately burden vulnerable communities.

In conclusion, natural capital accounting, particularly the SEEA, plays a crucial role in informing climate change policies. By providing a comprehensive framework for accounting for natural capital, policymakers can better assess the trade-offs and costs associated with different policy options. Moreover, natural capital accounting can help policymakers prioritize actions that promote sustainable development and reduce environmental degradation. Through the use of illustrative case studies, this publication aims to demonstrate how the SEEA can contribute to better climate change policy reaching the goals of the Paris Agreement.

Dimension: 280 (mm)
ISBN-13: 9789212591575