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Modifying national accounts for sustainable ocean development

Author

Listed:
  • Eli P. Fenichel

    (Yale University)

  • Ethan T. Addicott

    (Yale University)

  • Kristine M. Grimsrud

    (Statistics Norway)

  • Glenn-Marie Lange

    (The World Bank)

  • Ina Porras

    (Independent researcher)

  • Ben Milligan

    (University of New South Wales)

Abstract

Sustainable development of the ocean economy requires a system for measuring progress. The standard system of national accounting provides a solid foundation for doing so, though the scope requires expansion to adequately cover household-produced services; for example, ocean-based leisure, and the role of natural capital in the ocean economy. The accounts summary needs indicators beyond gross domestic product that enable users to choose what is included. New technologies make digital dashboards of indicators easy to produce. Such dashboards facilitate rapid comparison of indicators that cannot be aggregated into a single metric, which enables national ocean accounts to coherently present physical and monetary data.

Suggested Citation

  • Eli P. Fenichel & Ethan T. Addicott & Kristine M. Grimsrud & Glenn-Marie Lange & Ina Porras & Ben Milligan, 2020. "Modifying national accounts for sustainable ocean development," Nature Sustainability, Nature, vol. 3(11), pages 889-895, November.
    • Handle: RePEc:nat:natsus:v:3:y:2020:i:11:d:10.1038_s41893-020-0592-8
    DOI: 10.1038/s41893-020-0592-8
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    Cited by:

    1. Qu, Yang & Hooper, Tara & Austen, Melanie C. & Papathanasopoulou, Eleni & Huang, Junling & Yan, Xiaoyu, 2023. "Development of a computable general equilibrium model based on integrated macroeconomic framework for ocean multi-use between offshore wind farms and fishing activities in Scotland," Applied Energy, Elsevier, vol. 332(C).
    2. Comte, Adrien & Sylvie Campagne, C. & Lange, Sabine & Bruzón, Adrián García & Hein, Lars & Santos-Martín, Fernando & Levrel, Harold, 2022. "Ecosystem accounting: Past scientific developments and future challenges," Ecosystem Services, Elsevier, vol. 58(C).
    3. Kvamsdal, Sturla, 2023. "An exploratory analysis of warming effects on wealth in the Barents Sea fisheries," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 34-50.
    4. Bagstad, Kenneth J. & Ingram, Jane Carter & Shapiro, Carl D. & La Notte, Alessandra & Maes, Joachim & Vallecillo, Sara & Casey, C. Frank & Glynn, Pierre D. & Heris, Mehdi P. & Johnson, Justin A. & Lau, 2021. "Lessons learned from development of natural capital accounts in the United States and European Union," Ecosystem Services, Elsevier, vol. 52(C).
    5. Yukiko Hashida & Eli P. Fenichel, 2022. "Valuing natural capital when management is dominated by periods of inaction," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(2), pages 791-811, March.

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