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Department of Economic and Social AffairsStatistics Division Statistical Papers Series F No. 124 System of Environmental-Economic Accounting –Ecosystem Accounting United NationsNew York, 2024 The designations employed and the presentation of material in this information prod-uct do not imply the expression of any opinion whatsoever on the part of the UnitedNations, the European Union, Food and Agriculture Organization of the UnitedNations (FAO), International Monetary Fund (IMF), the Organisation for EconomicCo-operation and Development (OECD), the United Nations Environment Pro-gramme (UNEP) or the International Bank for Reconstruction and Development/TheWorld Bank, (World Bank) concerning the legal or development status of any country,territory, city or area or of its authorities, or concerning the delimitation of its fron-tiers or boundaries. The mention of specific companies or products of manufacturers,whether or not these have been patented, does not imply that these have been endorsedor recommended by United Nations, European Union, FAO, IMF, OECD, UNEP inpreference to others of a similar nature that are not mentioned. The views expressed in this information product are those of the author(s) and do notnecessarily reflect the views or policies of United Nations, European Union, FAO, IMF,UNEP or the World Bank. For the OECD, this work is prepared under the responsibil-ity of the Secretary-General of the OECD, and the opinions expressed and argumentsemployed herein do not necessarily reflect the official views of the Member countriesof the OECD. The World Bank does not guarantee the accuracy, completeness, or currency of thedata included in this work and does not assume responsibility for any errors, omis-sions, or discrepancies in the information, or liability with respect to the use of orfailure to use the information, methods, processes, or conclusions set forth. The cita-tion of works authored by others does not mean the World Bank endorses the viewsexpressed by those authors or the content of their works. ST/ESA/STAT/SER.F/124United Nations publicationSales No. E.22.XVII.1ISBN: 978-92-1-259183-4eISBN: 978-92-1-000093-2ISBN: 978-92-68-19430-0 [European Union]Catalogue number: KS-02-24-643-EN-N [European Union]ISBN: 78-92-5-139334-5 [FAO] Copyright © 2024United NationsEuropean UnionFood and Agriculture Organization of the United NationsInternational Monetary FundOrganisation for Economic Co-operation and DevelopmentThe International Bank for Reconstruction and Development/The World Bank Preface There is growing recognition that our economies are embedded within and depend-ent on nature and that nature itself, as our natural capital, should be recognized as anasset to the economy. Further, as the economic and social impacts of the climate andbiodiversity crises become more evident, policymakers are increasingly seeking robustmeasurement that goes beyond gross domestic product (GDP) and integrates envi-ronmental and economic data. The System of Environmental-Economic Accounting(SEEA) is an international statistical standard that supports integrated decision-mak-ing by measuring the interdependence of the economy and the environment. The System of Environmental-Economic Accounting – Ecosystem Accounting(SEEA EA) was adopted by the United Nations Statistical Commission in March 2021as an international statistical standard for the ecosystem accounting framework andphysical ecosystem accounts, and presents internationally recognized statistical prin-ciples and recommendations for the valuation of ecosystem services and assets. Theadoption of SEEA EA is a historic step forward towards transforming how nature isviewed and valued. Importantly, environmental degradation will be reflected in bal-ance sheets and can be recognized as a cost in the measurement of economic growth. The new framework will inform national policies related to the environment-economy nexus, as well as provide crucial information to inform international initia-tives and global reporting frameworks, including the Sustainable Development Goals,the Kunming-Montreal Global Biodiversity Framework, the United Nations Decadeon Ecosystem Restoration, Beyond GDP, the measurement of land degradation underthe United Nations Convention to Combat Desertification, and the measurement ofGHG emissions and removals by land use, land use change and forestry (LULUCF)under the United Nations Framework Convention on Climate Change and associ-ated Nationally Determined Contributions (NDC), just to name a few. It is worth not-ing that the monitoring framework for the Kunming-Montreal Global BiodiversityFramework draws directly on SEEA EA for several indicators, including the headlineindicators under goals A and B. The road to SEEA EA SEEA EA is the culmination of a decade of work and builds upon the developmentof environmental accounting methodologies which have been undertaken in earnestsince the 1990s. The first SEEA handbook was published as