What’s in News?

  • The NCAVES India Forum was recently conducted by the Ministry of Statistics and Programme Implementation (MoSPI).

What is NCAVES?

  • The NCAVES Project, funded by the European Union, has been jointly implemented by the United Nations Statistics Division (UNSD), the United Nations Environment Programme (UNEP) and the Secretariat of the Convention of Biological Diversity (CBD).
  • It aims to assist the five participating partner countries, namely Brazil, China, India, Mexico and South Africa, to advance the knowledge agenda on environmental-economic accounting, in particular ecosystem accounting.
  • It will initiate pilot testing of SEEA Experimental Ecosystem Accounting (SEEA EEA) in the participating five nations.

What is Natural Captital Accounting?

  • Natural Capital Accounting (NCA) is an umbrella term covering efforts to make use of an accounting framework to provide a systematic way to measure and report on stocks and flows of natural capital.
  • Natural capital is another term for the stock of renewable and non-renewable resources that combine to yield a flow of benefits to people.
  • NCA covers accounting for individual environmental assets or resources, both biotic and abiotic (such as water, minerals, energy, timber, fish), as well as accounting for ecosystem assets (e.g. forests; wetlands), biodiversity and ecosystem services, in both physical and monetary terms.

What is SEEA?

  • The System of Environmental-Economic Accounting (SEEA) is a framework that integrates economic and environmental data to provide a more comprehensive and multipurpose view of the interrelationships between the economy and the environment and the stocks and changes in stocks of environmental assets, as they bring benefits to humanity.
  • It contains the internationally agreed standard concepts, definitions, classifications, accounting rules and tables for producing internationally comparable statistics and accounts.
  • The SEEA framework follows a similar accounting structure as the System of National Accounts (SNA). The framework uses concepts, definitions and classifications consistent with the SNA in order to facilitate the integration of environmental and economic statistics.

Source: PIB

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