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Business and National Accounting for Natural Capital—Toward Improved Understanding and Alignment

Vardon, Michael; Birt, Jacqueline; Ingram, Jane Carter

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This chapter provides a brief introduction to the natural capital accounting (NCA) undertaken by governments and business with the aim of improving the understanding and alignment of these two distinct accounting communities. Both communities have long accounting traditions, which have evolved over the last few decades to include natural capital and the impacts of economic activity on the environment. While many of the concepts and formats used are similar, the scale, terminology, and...[Show more]

dc.contributor.authorVardon, Michael
dc.contributor.authorBirt, Jacqueline
dc.contributor.authorIngram, Jane Carter
dc.contributor.editorVardon, Michael
dc.contributor.editorBass, Steve
dc.contributor.editorAhlroth, Sofia
dc.contributor.editorRuijs, Arjan
dc.date.accessioned2021-05-19T00:48:32Z
dc.date.available2021-05-19T00:48:32Z
dc.identifier.urihttp://hdl.handle.net/1885/233211
dc.description.abstractThis chapter provides a brief introduction to the natural capital accounting (NCA) undertaken by governments and business with the aim of improving the understanding and alignment of these two distinct accounting communities. Both communities have long accounting traditions, which have evolved over the last few decades to include natural capital and the impacts of economic activity on the environment. While many of the concepts and formats used are similar, the scale, terminology, and purpose of the accounting undertaken are different. This chapter aims to improve the comparative understanding of government (or national) accounting and business accounting. It outlines some of the history and key features of each system, noting where they are similar and where they diverge, and the implications for aligning the accounting of natural capital. Both accounting types have begun by including individual natural resources in their accounting, for example water, energy, or timber use, as well as air and water pollution. In such areas, there has been considerable success. However, both accounting communities face challenges, for example, how to include ecosystems and biodiversity in their accounts, assign meaningful values to natural capital, and communicate complex information to a broad range of stakeholders. These achievements and challenges provide a good basis for shared learning in the development and application of NCA by both business and government.
dc.format.mimetypeapplication/pdf
dc.language.isoen_AU
dc.publisherWorld Bank Group
dc.relation.ispartofForum on Natural Capital Accounting for Better Policy Decisions: Taking Stock and Moving Forward
dc.relation.isversionof1st Edition
dc.rights© 2017 International Bank for Reconstruction and Development / The World Bank
dc.titleBusiness and National Accounting for Natural Capital—Toward Improved Understanding and Alignment
dc.typeBook chapter
local.description.notesImported from ARIES
dc.date.issued2017
local.identifier.absfor050209 - Natural Resource Management
local.identifier.absfor060208 - Terrestrial Ecology
local.identifier.absfor150106 - Sustainability Accounting and Reporting
local.identifier.ariespublicationu1055894xPUB35
local.publisher.urlhttps://www.worldbank.org/en/home
local.type.statusPublished Version
local.contributor.affiliationVardon, Michael, College of Science, ANU
local.contributor.affiliationBirt, Jacqueline, Monash University
local.contributor.affiliationIngram, Jane Carter, Ernst and Young/Wildlife Conservation Society
local.bibliographicCitation.startpage229
local.bibliographicCitation.lastpage236
local.identifier.absseo960609 - Sustainability Indicators
local.identifier.absseo910199 - Macroeconomics not elsewhere classified
dc.date.updated2020-11-23T10:17:05Z
local.bibliographicCitation.placeofpublicationUnited States
dcterms.accessRightsOpen Access
dc.provenanceThe material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given - from the document pdf.
CollectionsANU Research Publications

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