System of Environmental-Economic Accounting

The recognition that economies are embedded within and dependent on nature is growing, with nature itself being seen as an asset to the economy. As the impacts of climate and biodiversity crises become more evident, policymakers are seeking robust measurements that integrate environmental and economic data, going beyond GDP. The System of Environmental-Economic Accounting (SEEA) supports this by measuring the interdependence of the economy and the environment. In March 2021, the United Nations Statistical Commission adopted the SEEA Ecosystem Accounting (SEEA EA) as an international standard for ecosystem accounting. This framework presents principles and recommendations for valuing ecosystem services and assets, reflecting environmental degradation in balance sheets as a cost to economic growth. SEEA EA will inform national policies and international initiatives, including the Sustainable Development Goals, the Kunming-Montreal Global Biodiversity Framework, and the United Nations Framework Convention on Climate Change, among others.