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Increasing attention is being given to understanding how intensifying human activities combine over space and time to influence persistence of biodiversity. Two types of biodiversity assessment in particular are attracting growing interest: one focused on understanding past‐to‐present change (environmental accounting) and another focused on understanding likely present‐to‐future changes under proposed scenarios of future actions (cumulative impact assessment of scenarios). Here we highlight the potential benefits of improving the links between environmental accounting and scenario‐based cumulative impact assessment for biodiversity, using a case study for subterranean fauna in the Pilbara region of Australia. Using a flexible and comprehensive model‐based analytical approach, we assessed expected change in biodiversity persistence given past development, and likely change to 2100 under a proposed development scenario for the region. Our assessment shows both the times (2005–2015) and places (Fortescue sub‐region) where development activities are likely to have most strongly influenced long‐term biodiversity persistence for subterranean fauna in the Pilbara region. Although mining development has often occurred in areas that have a high value for subterranean fauna diversity, our linked environmental accounting and cumulative impact assessment suggest relatively modest impacts on long‐term persistence for this component of biodiversity. Synthesis and applications. Our study provides an effective demonstration of the capacity and potential benefits of better linking environmental accounting with scenario‐based cumulative impact assessment. Improving the links between these two perspectives on biodiversity assessment will create benefits for both, providing a consistent basis for cumulative impact assessments and enhancing the usefulness of environmental accounting. Our study provides an effective demonstration of the capacity and potential benefits of better linking environmental accounting with scenario‐based cumulative impact assessment. Improving the links between these two perspectives on biodiversity assessment will create benefits for both, providing a consistent basis for cumulative impact assessments and enhancing the usefulness of environmental accounting.

We explore relations between Indigenous and the Western conceptualisation of flows of services from nature to people, and specifically, flow of ecosystem services as per SEEA-EA accounting framework developed and promoted by the United Nations. This case study was a partnership with the Nywaigi Traditional Owners from North Queensland Australia and was conducted as a series of workshops with the Nywaigi representatives. We present Nywaigi conceptualisation of the ecosystem services (and disservices) linked to Mungalla Station on their Country. Starting from the Western point of view, we introduce ‘crosswalk’ from SEEA-EA ecosystem services to Nywaigi conceptualisation; and starting from Nywaigi perspective, ‘mental map’ that links Nywaigi wellbeing to SEEA-EA framework. Our findings indicate that some of the concepts are very similar between First Nation and SEEA-EA, and confirm importance to Nywaigi Traditional Owners of circular and interconnected conceptualisation of the nature-people system and of longer conceptualisation of time. Suggestions on further modifications to conceptualisations of nature-people-nature system are presented, and the temporal scale of expected changes is discussed. Specifically, we discuss concepts of flows of services from nature to nature; category of disservices – explicit recognition that ecosystem flows can be beneficial but also detrimental for human wellbeing, both physical and mental/spiritual; and important role of outside influences (capitals other than natural capital) in determining the actual use of what ecosystem services might be supplying. Our findings present empirical evidence of alternative conceptualisations that emphasise continually unfolding processes and relations.

Nature loss poses a growing risk to the global economy, prompting calls for enhanced business accountability. To support the urgent business transformations required to achieve Nature Positive goals, decision‐makers, investors, lenders and other stakeholders need consistent, comparable and decision‐useful information on the state of nature and the benefits it provides. This paper presents a conceptual framework for natural capital accounting (NCA), adapting principles from financial accounting to support transparent reporting on business interactions with nature. We propose a set of structured statements— Natural Capital Balance Sheets , Natural Capital Income Statements, and Ecosystem Change Statements— that report on stocks of natural capital and associated ecosystem service flows. This approach is novel in its application of double‐entry financial accounting principles to ecological assets, liabilities and equity, offering a structured method for tracking organisational stewardship of nature. The framework builds on established financial reporting practices and aligns with global statistical standards such as the United Nations System of Environmental‐Economic Accounting (SEEA). A hypothetical example demonstrates how the framework can be applied to track changes in ecosystem condition and assess progress towards Nature Positive commitments. This work provides a foundation for mainstreaming NCA as a tool for ecological accountability. Further research is needed to operationalise the framework, refine ecological metrics and integrate NCA into governance and reporting systems. As global sustainability standards evolve, this framework offers a foundation for embedding nature into business reporting and decision‐making and aligning corporate performance with ecological sustainability.

A growing number of countries is setting up natural capital accounts (NCA) based on the system of environmental-economic accounting (SEEA); however, actually using them for better policy making turns out to be complex. This paper synthesises lessons on the institutional mainstreaming of the SEEA and its use in improving policy decisions affecting natural capital. It draws on discussions held at two Policy Forums organised by the World Bank Wealth Accounting and Valuation of Ecosystem Services program and the United Nations Statistical Division. Practical examples of how the SEEA helps to improve policy making are explored. Emerging from the Forums were ten principles for making NCA fit for policy. These principles promote a comprehensive NCA organisation, a purposeful use of accounts, trustworthy methods and institutionalisation of NCA mechanisms in government. To put these principles into practice, six strategies are outlined: (1) assure credibility of the accounts; (2) align supply and demand for NCA; (3) assure high level support for NCA; (4) encourage cooperation between institutions so NCA and policy are mutually constructive; (5) provide evidence that natural capital is economically important and; (6) assure policyrelevant communication of NCA results.

PurposeThis paper aims to present the findings of a government-initiated project that sought to explore the possibility of incorporating cultural connections to land within the federal national accounting system using the United Nations Systems of Environmental-Economic Accounting (UN-SEEA) framework as a basis.Design/methodology/approachAdopting a critical dialogic approach and responding to the calls for critical accountants to engage with stakeholders, the authors worked with two Indigenous groups of Australia to develop a system of accounts that incorporates their cultural connections to “Country”. The two groups were clans from the Mungguy Country in the Kakadu region of Northern Territory and the Ewamian Aboriginal Corporation of Northern Queensland. Conducting two-day workshops on separate occasions with both groups, the authors attempted to meld the Indigenous worldviews with the worldviews embodied within national accounting systems and the UN-SEEA framework.FindingsThe models developed highlight significant differences between the ontological foundations of Indigenous and Western-worldviews and the authors reflect on the tensions created between these competing worldviews. The authors also offer pragmatic solutions that could be implemented by the Indigenous Traditional Owners and the government in terms of developing such an accounting system that incorporates connections to Country.Originality/valueThe paper contributes to providing a contemporary case study of engagement with Indigenous peoples in the co-development of a system of accounting for and by Indigenous peoples; it also contributes to the ongoing debate on bridging the divide between critique and praxis; and finally, the paper delves into an area that is largely unexplored within accounting research which is national accounting.

The System of Environmental-Economic Accounting Ecosystem Accounting (SEEA-EA) is widely promoted in environmental and economic policy and management. Unfortunately, the SEEA-EA has not substantively addressed the aspects of accounting that may be of interest to, or used by, Indigenous peoples. We investigate an Indigenous perspective on the potential of the SEEA-EA to support cultural and environmental management through collaborative workshops with managers of Nyamba Buru Yawuru, the Prescribed Body Corporate representing the Yawuru Traditional Owners in Western Australia. Our discussions highlight that while the SEEA-EA may be a valuable tool for empowering Indigenous people and supporting the management of their lands and seas, there are areas where the SEEA-EA needs to be broadened to better reflect cultural values, and the services to ecosystems provided by Indigenous peoples. Embedding Indigenous perspectives into the SEEA-EA would mean that it is of greater use to Indigenous peoples and their representative organisations and ensure that these values are better recognised in the policymaking of government.

The COVID-19 pandemic and related social and economic emergencies induced massive public spending and increased global debt. Economic recovery is now an opportunity to rebuild natural capital alongside financial, physical, social and human capital, for long-term societal benefit. Yet, current decision-making is dominated by economic imperatives and information systems that do not consider society’s dependence on natural capital and the ecosystem services it provides. New international standards for natural capital accounting (NCA) are now available to integrate environmental information into government decision-making. By revealing the effects of policies that influence natural capital, NCA supports identification, implementation and monitoring of Green Recovery pathways, including where environment and economy are most positively interlinked.

The mapping and assessment of ecosystems and their services (MAES) is key to inform sustainable policy and decision-making at national and sub-national levels. Responding to the paucity of research in sub-Saharan Africa, we conduct a pilot study for Eritrea that aims to map and assess the temporal dynamics of key ecosystems and their services. We reviewed policy and legal documents, analyzed land cover changes and estimated the potential for ecosystem services supply through an expert-based matrix approach. Our results showed that from 2015 to 2019, the potential supply of the ecosystem services analyzed (e.g., crop provisioning, water supply and recreation) increased, with the exception of wood supply. Overall, our study presents policy-relevant insights as to where to conserve, develop, or restore ecosystem services supply in Eritrea. Our approach is transferable to similar data scarce contexts and can thereby support policies toward more sustainable land development for people and nature.

This research addresses the challenge of assessing ecosystem services, ecosystem condition, and agricultural externalities in a Latin American socio-ecological context, where primary production is both a major economic activity and a pressure on ecosystems. In Uruguay, the intensification of agriculture and livestock farming has raised concerns about nutrient-related externalities affecting water and soil quality. Although the System of Environmental and Economic Accounting (SEEA)—Ecosystem Accounting framework is used for better ecosystem management, it does not explicitly represent externalities. Using the Santa Lucía sub-basin in Uruguay (supplying water to 60% of the population) as a case study, this research combines the Soil and Water Assessment (SWAT) Tool with ecosystem accounting principles to assess ecosystem services, ecosystem condition, and externalities. Model outputs are used to compile partial ecosystem accounts in physical terms, integrating spatially explicit indicators. Results show that nutrient losses to surface waters, interpreted as agricultural externalities, are predominantly driven by diffuse sources associated with croplands and dairy systems and shaped by hydrological connectivity. Despite data and model-related uncertainties, the approach supports hotspot identification and the spatial targeting of interventions and provides the basis for future monetary assessment, illustrating how hydrological modeling can complement ecosystem accounting in data-scarce contexts.