Natural capital accounting for sustainable macroeconomic strategies

The System of Environmental-Economic Accounting (SEEA) is a tool that can be used to answer policy questions about sustainable macroeconomic strategies, and this publication provides examples of how it can be applied to inform these strategies. It is aimed at macroeconomic policymakers at various levels.

Format: Paperback / softback
Length: 54 pages
Publication date: 28 February 2021
Publisher: United Nations

This publication explores the potential of natural capital accounting, particularly the System of Environmental-Economic Accounting (SEEA), to address a wide range of policy questions related to sustainable macroeconomic strategies. With a focus on macroeconomic policymakers at various levels, including international organizations and national governments, especially central banks and finance ministries, this report aims to provide valuable insights and practical examples to inspire policymakers in utilizing the SEEA to inform strategies that promote sustainable and green long-term growth.

Natural capital accounting, as a framework, provides a comprehensive approach to measuring and valuing the stocks and flows of natural resources and ecosystems that underpin economic activities. By incorporating the economic value of natural resources into economic decision-making, policymakers can better align their policies with the objectives of sustainable development.

One of the key advantages of natural capital accounting is its ability to provide a holistic view of economic development. It recognizes that natural resources are not isolated from economic activities but are interdependent and contribute to the overall well-being of society. By accounting for the environmental costs and benefits of economic activities, policymakers can identify trade-offs and make informed decisions that balance economic growth with environmental protection.

The SEEA, in particular, offers a valuable tool for policymakers to assess the environmental impacts of different economic sectors and policies. It provides a standardized framework for measuring and reporting environmental indicators, such as greenhouse gas emissions, air pollution, water use, and biodiversity loss. This information can be used to evaluate the sustainability of economic growth and identify areas where policy interventions are needed to promote sustainable development.

Several successful examples of the application of natural capital accounting to inform sustainable macroeconomic strategies are provided in this report. These examples showcase how the SEEA can be used to evaluate the environmental impacts of different policies, such as carbon pricing, renewable energy incentives, and land use planning. By incorporating these examples into policy discussions, policymakers can gain a better understanding of the potential benefits and trade-offs of different strategies and make informed decisions that promote sustainable and green long-term growth.

In conclusion, natural capital accounting, particularly the SEEA, offers a powerful tool for policymakers to address the challenges of sustainable macroeconomic strategies. By providing a comprehensive approach to measuring and valuing natural resources and ecosystems, policymakers can better align their policies with the objectives of sustainable development. The examples provided in this report demonstrate the potential benefits of applying natural capital accounting to inform policies that promote sustainable and green long-term growth. As we navigate the complex challenges of the 21st century, it is essential that policymakers take a holistic approach to economic decision-making and incorporate the value of natural capital into their policies.

Dimension: 280 (mm)
ISBN-13: 9789212591551