Natural capital accounting perspectives: a pragmatic way forward

Turner, Kerry, Badura, Tomas and Ferrini, Silvia (2019) Natural capital accounting perspectives: a pragmatic way forward. Ecosystem Health and Sustainability, 5 (1). pp. 237-241. ISSN 2096-4129

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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.

Item Type: Article
Uncontrolled Keywords: ecosystem accounting,exchange values,natural capital accounting,seea,wealth accounting,welfare values,ecology, evolution, behavior and systematics,ecology,management, monitoring, policy and law ,/dk/atira/pure/subjectarea/asjc/1100/1105
Faculty \ School: Faculty of Science > School of Environmental Sciences
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Depositing User: LivePure Connector
Date Deposited: 27 Nov 2019 02:01
Last Modified: 22 Oct 2022 05:30
DOI: 10.1080/20964129.2019.1682470

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