How can ecosystems be incorporated into corporate accounting?

There is increasing awareness that corporations and governments need better information about the economic implications of changes to the ecosystems they depend on. There is a growing belief that accounting can and should play a role in helping to acquire and use this information. The research examines adaptations that would be needed to include ecosystems as assets under International Accounting Standards (IAS). It focuses on broadacre agriculture which manages a significant proportion of land, is highly dependent on the type and condition of the ecosystems it uses and where research is showing that changes to condition can have significant economic implications. The research explores the issue of whether ecosystems can be included as assets under IAS and demonstrates methods for their physical and monetary valuation. Physical and monetary accounts of agricultural ecosystems under IAS are developed and their use as support for sustainable agricultural production discussed.

This event is free and open to the public.

 

About the Speaker

Following roles in strategic sales and marketing roles in the IT industry, Sue Ogilvy became interested in agricultural sustainability and accounting for natural capital. With a BSc in Science (Physics) and a Masters of Marketing Sue is currently enrolled as a part-time PhD Scholar. She is conducting research into understanding and accounting for the links between natural capital and profitability in Australia’s extensive livestock industries. Her work to date indicates that putting ecosystems ‘on the books’ for agricultural companies may be practical and useful.