Natural capital accounting perspectives: a pragmatic way forward

0512036 - ÚVGZ 2020 RIV US eng J - Journal Article
Turner, K. - Baďura, Tomáš - Ferrini, S.
Natural capital accounting perspectives: a pragmatic way forward.
Ecosystem Health and Sustainability. Roč. 5, č. 1 (2019), s. 237-241. ISSN 2096-4129. E-ISSN 2332-8878
Institutional support: RVO:86652079
Keywords : valuation * Natural capital accounting * seea * ecosystem accounting * wealth accounting * exchange values * welfare values
OECD category: Environmental sciences (social aspects to be 5.7)
Impact factor: 2.315, year: 2019
Method of publishing: Open access
https://www.tandfonline.com/doi/full/10.1080/20964129.2019.1682470

Introduction: Recent debates surrounding the application of natural capital accounting (NCA) have produced several approaches to further develop this system, as well as highlighted a number of conceptual and methodological issues that need to be resolved before mainstreaming NCA into policy and decision making. We argue that prolonged debate over the value concepts (i.e., exchange versus other values) underpinning different modifications to NCA has slowed progress in experimentation and uptake by policymakers.Outcomes: Consequently we propose three broad approaches which can be progressed in parallel to reinvigorate experimentation with the NCA principles and practice, while at the same time generating policy relevant tools and evidence bases for decision support. The three approaches are, extended SNA accounting anchored to the use of exchange values, a complementary accounts network (CAN) that utilizes plural values as supplementary accounts to the SNA system, and wealth accounting that focuses on measures of welfare and wellbeing. The three approaches are complementary and data developed in any one can inform the other two.Conclusions: We contend that CAN offers the most flexibility and opportunities to progress short term support for decision making on environmental issues which are now becoming urgent.
Permanent Link: http://hdl.handle.net/11104/0302249