Susan Ogilvy

BSc, MMktg, UniMelb
PhD Student

Following rewarding and stimulating roles in strategic sales and marketing roles in the IT industry, Sue became interested in agricultural sustainability and accounting for natural capital.

She has a BSc in Science (Physics) and a Masters of Marketing and is currently enrolled as a part-time PhD Scholar where she is working on 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.

To complement her study and research, Sue works part time on a range of projects related to ecosystems assessment, investment and accounting.  These projects have included:

  • work with the ABS on the Environmental-Economic Accounts for the Great Barrier Reef,
  • a studentship with the Centre for Policy development focusing on sustainable agriculture
  • a scoping study and cost-benefit analysis for low-cost, low-risk investment to regenerate ecosystems services of a degraded pastoral station in Western Australia.
  • supporting the Stipa Native Grasses Association in the delivery of an “Action on the Ground” project to demonstrate low-cost, rapid storage of soil carbon as a result of management of grazing livestock
  • Sue also provides marketing and research support for a social enterprise that supplies healthy, ethical and sustainable meat to citizens and supports the “Soils for Life” program.

Research interests

  • Accounting for natural capital
  • Sustainable farm practices
  • Ecosystems; their stocks and flows
  • Ecological dynamics modelling


Thesis title   Accounting for natural capital in agriculture

Thesis description  This thesis attempts to adapt the discipline of double-entry bookkeeping and accrual accounting to the management of natural capital in agriculture. Key to this is the development of an ecological balance sheet and ecological  transactions that link flows from ecosystem assets to income and expenses.

Ogilvy, S., Burritt, R., Walsh, D., Obst, C., Meadows, P., Muradzikwa, P., Eigenraam, M. 2018. “Accounting for liabilities related to ecosystem degradation” Ecosystem Health and Sustainability. Taylor & Francis Vol 4, Iss 11, pp 261-276. DOI 10.1080/20964129.2018.1544837

Ogilvy, S., & Vail, M., 2018. “Standards-compliant valuations of ecosystems” Sustainability Accounting, Management and Policy Journal.  Vol 9 Iss. 2 pp 98-117 doi:10.1108/SAMPJ-07-2017-0073

Graham M Turner; Kirsten Larsen; Mark Lawrence; Sue Ogilvy; Jaithri Ananthapavan; Marj Moodie, Sarah James; Sharon Friel; Chris J Ryan (submitted September 2016), “Squandering Australia's Food Security— the Environmental and Economic Costs of our Unhealthy Diet and the Policy Path We're On”

Z.J. Read, H.P. King, D.J. Tongway, S. Ogilvy, R.S.B. Greene and G. Hand (2016), “Landscape function analysis to assess soil processes on farms following ecological restoration and changes in grazing management” European Journal of Soil Science, 2016, 67, 409-420 doi:10.1111/ejss.12352

Turner, K.G., Anderson, S., Gonzales-Chang, M., Costanza, R., Courville, S., Dalgaard, T., Dominati, E., Kubiszewski, I., Ogilvy, S., Porfirio, L., Ratna, N., Sandhu, H., Sutton, P.C., Svenning, J.-C., Turner, G.M., Varennes, Y.-D., Voinov, A., Wratten, S. (2015), “A review of methods, data, and models to assess changes in the value of ecosystem services from land degradation and restoration” Ecological Modelling

Ogilvy, Sue & Kulkani, Anand (2015), “From vicious to virtuous cycles: the future of Australian agriculture. Centre for Policy Development.

Ogilvy, S. (2015) “Developing the Ecological Balance Sheet for Agricultural Sustainability” Sustainability Accounting, Management and Policy Journal, 6(2), pp. 110 – 137. doi:11.1108/sampj-07-2014-0040,

Price, R. & Ogilvy, S., 'Grazing' in Lindenmayer, D. Dovers, S., Harris Olson, M. and Morton, S. (Eds), Ten Commitments: Reshaping the Lucky Country's Environment. CSIRO Publishing, Collingwood, Victoria.

Ogilvy, Sue; Costanza, Robert. “Accounting for Ecological Capital.” In Oxford Bibliographies in Ecology. Ed. David Gibson. New York: Oxford University Press.

Dobes L, Weber N, Bennett J and Ogilvy S (2013). Stream-bed and flood-plain rehabilitation at Mulloon Creek, Australia: a financial and economic perspective. The Rangeland Journal, 2013, 35, 339–348  doi:10.1071/RJ12098