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Approaches to accounting for our natural capital: Applications across Ireland

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  • McGrath, Luke
  • Hynes , Stephen

Abstract

Natural capital accounting allows for the integration of our natural assets within economic and political decision making, can improve natural resource governance and permits the development of environmentally adjusted macroeconomic indicators to serve as complements to Gross Domestic Product (GDP). The United Nations System of Environmental-Economic Accounting (UN SEEA) is the accepted international standard for natural capital accounting, providing a framework for organizing and presenting statistics on the environment and its relationship with the economy. This paper details different approaches to natural capital accounting, all related to the SEEA framework, currently being undertaken across Ireland. We discuss the relationship between natural capital accounts and sustainable development measurement and provide recommendations for future work in these areas.

Suggested Citation

  • McGrath, Luke & Hynes , Stephen, 2020. "Approaches to accounting for our natural capital: Applications across Ireland," Working Papers 309501, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
    • Handle: RePEc:ags:semrui:309501
    DOI: 10.22004/ag.econ.309501
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    1. Luke McGrath & Stephen Hynes & John McHale, 2022. "The Air we Breathe: Estimates of Air Pollution Extended Genuine Savings for Europe," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 68(1), pages 161-188, March.
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