The first ever environmental-economic accounts for the OSPAR region
A new paper makes significant achievements in the field of ecosystem accounting for the ocean by presenting the first attempt at compiling accounts aligned with the UN System of Environmental Economic Accounting – Ecosystem Accounting (SEEA EA) at a regional sea scale to reveal the wealth hidden below the waves.
Ecosystem Accounting offers a robust framework for quantifying and valuing ecosystem extent, condition, and services, enabling the identification of ecological degradation and the evaluation of economic activities’ risks and dependencies on the environment. For the first time OSPAR has embraced the accounting for natural capital and ecosystem services, with the SEEA EA providing the international standard.
This research paves the way for a comprehensive understanding of the OSPAR region’s natural capital and ecosystem services. The study entailed the identification of open-access data, the production of accounts for selected ecosystems, valuation of their services and asset value, and the revelation of crucial challenges and invaluable lessons.
OSPAR would like to thank Maria Alarcon Blazquez, Rob van der Veeren and team for producing this report.
This text was adapted from a blog article in Pensoft.blog
For more information on the Global Accounts Ocean Partnership
Alarcon Blazquez MG, van der Veeren R, Gacutan J, James PAS (2023) Compiling preliminary SEEA Ecosystem Accounts for the OSPAR regional sea: experimental findings and lessons learned. One Ecosystem 8: e108030. https://doi.org/10.3897/oneeco.8.e108030