Value transfer in ecosystem accounting applications

Ecosystem accounting is a statistical framework that aims to track the state of ecosystems and ecosystem services, with periodic updates. This framework follows the statistical standard of the System of Environmental Economic Accounting Ecosystem Accounting (SEEA EA). This paper focuses on the potential use of the “Value Transfer” (VT) valuation method to produce the monetary metrics for the SEEA EA implementation. Although these methods have been developed primarily for welfare analysis, the underlying techniques are directly applicable to the monetary metrics required for ecosystem accounting. The compilation of regular accounts is about to become a key area of work for the National Statistical Offices in particular, due to the anticipated amendment on European environmental economic accounts. On this basis, accounting practitioners have voiced their concerns about three issues in particular: the lack of resources, the need for guidelines and the challenge of periodically updating the accounts. We argue that VT can facilitate empirical applications especially at national scales and in situations with limited expertise and resources available. VT is a low-cost valuation approach in line with SEEA EA requirements able to provide periodic, rigorous and consistent estimates for use in accounts. While some methodological challenges remain, it is likely that VT can help to implement SEEA EA at scale and in time to respond to the need to incorporate nature into mainstream decision-making processes.

GRAMMATIKOPOULOU Ioanna;  BADURA Tomas;  JOHNSTON Robert;  BARTON David;  FERRINI Silvia;  SCHAAFSMA Marije;  LA NOTTE Alessandra; 

2022-12-13

ACADEMIC PRESS LTD- ELSEVIER SCIENCE LTD

JRC129211

0301-4797 (online),   

https://www.sciencedirect.com/science/article/pii/S030147972202357X,    https://publications.jrc.ec.europa.eu/repository/handle/JRC129211,   

10.1016/j.jenvman.2022.116784 (online),