The United Kingdom has developed natural capital accounts (NCA) for forests, marine areas and for urban areas, including London. NCA brings disparate sources of information on the state of natural capital and the flows of benefits to the economy and society into an integrated, coherent, conceptual framework. Without the accounts, it is likely that we would continue to have a variety of different evidence sources – such as land cover maps, economic valuation studies, environmental indicators, biophysical models and economic impact studies – all using different classifications, concepts and methods.
This seminar will look at how accounts for forests, marine areas and urban areas have been developed and how they might inform various analytical and decision-making processes in United Kingdom. It will also examine what we might learn from the UK experience for the application of NCA in Australia.