How can Ireland better account for nature? This Council report, based on extensive stakeholder engagement, advises on natural capital accounting and provides a guide for action. It emphasizes the importance of natural capital accounting in valuing and integrating nature into policy decision-making.
Natural capital accounting incorporates environmental data into national economic accounts, as practiced by the CSO and Eurostat using UN standards. The report underscores its role in protecting Ireland’s natural capital and biodiversity, highlighting examples from other countries like Australia, Canada, and the UK.
The Council recommends three actions to develop and integrate natural capital accounting into policy:
Capacity-Building:
Enhance skills in ecosystem services and spatial mapping, and use accounts in national and local authorities.
Payment for Ecosystems Services Schemes:
Develop PES schemes to support agriculture and land use transitions, benefiting nature and ecosystem services.
Support for Integration:
Embed natural capital accounting into the wider policy system.
Download the full report to learn more about these initiatives and their potential impact.
