ANALYSIS OF NATURAL CAPITAL ACCOUNTING IN THE U.S. AND THE EU

Victor Marian Dumitrache, Mahommad Jaradat, Svetlana PLATAGEA Gombos and Maria Alexandra Sarbu

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2022, vol. 16, issue 1, 875-882

Abstract: Because "you cannot manage what you don’t measure", in the context of the emerging ecological crisis, the need for measuring the contribution that ecosystems bring to the economic development has emerged. In 2012, the United Nations Statistical Commission adopted the System of Environmental-Economic Accounting (SEEA) Central Framework as the first international standard for environmental-economic accounting. Also, in 2021 it adopted the System of Environmental-Economic Accounting Ecosystem Accounting (SEEA EA). In 2020, only 89 developed and developing countries - out of 139 countries - implemented SEEA. Surprisingly, the U.S.A hadn't implemented SEEA, but still having a comprehensive Natural Capital Accounting System. The purpose of this paper is to point out the major differences regarding the way Natural Capital Accounting has been used in the U.S.A and in the EU. We performed an analysis of how Natural Capital Accounting (NCA) has been done in the U.S. and in the EU. This paper provides a general analysis of the development of Natural Capital Accounting in the U.S. and in the E.U.

Keywords: accounting; management; natural capital; system of national accounts. (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:16:y:2022:i:1:p:875-882

DOI: 10.24818/IMC/2022/05.07

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