The Indian Government demonstrated how a new statistical framework is helping to combat environmental degradation and promote sustainability at a Forum on the benefits of natural capital accounting, which is poised to revolutionize how the world takes nature into account.

India is one of around 90 developed and developing countries that have successfully adopted the System of Environmental Economic Accounting (SEEA) including the new framework, SEEA - Ecosystem Accounting. This framework provides policy makers with the information that makes nature and the ecosystem services it provides visible in the decision-making process. The new framework for ecosystem accounting is expected to be adopted as statistical standard by the United Nations Statistical Commission at its 2021 session in March. 

The forum, the Natural Capital Accounting and Valuation of Ecosystem Services (NCAVES) India Forum 2021, was organized by the Government of India, the United Nations and the European Union with three sessions on 14, 21 and 28 of January.  

 “We need an integrated information system that covers all pillars of sustainability, economic, social and environmental,” said UN Chief Economist Elliott Harris, while stressing to participants how the new framework is essential for sustainable development. “The SEEA is an important step toward being able to measure these interconnections.”

The Indian Union Minister of Environment, Forest and Climate Change, Shri Prakash Javadekar, highlighted that the Government of India is firmly proceeding to guide the country on the path of sustainable development and looks forward to evolving a comprehensive view of the natural resources and ecosystems.

The new statistical framework provides a much-needed standard methodology to measure ecosystems and mainstream biodiversity into macroeconomic planning and decision-making.

“For far too long, we have grown at the expense of nature, treating it as a resource with no limits,” said   Inger Andersen, Executive Director of the UN Environment Programme. “2020 was the year nature sent us a message – reminding us through pandemics, droughts, wildfires, hurricanes, melting glaciers, and rising temperatures – that we can no longer afford its invoices.”  

Ms. Andersen underscored that it is crucial that Natural Capital Accounting be factored into monitoring frameworks for the post-2020 global biodiversity targets: “Natural Capital Accounting has an important role to play in recalibrating our relationship with nature,” she said.

Elizabeth Mrema, Executive Secretary of the Convention on Biological Diversity, echoed this sentiment, saying: “If we are to succeed in finding a way to live in harmony with nature, we, as a global community, need to be able to identify threats to biodiversity in real time. We need data which can be used to develop policies at the national level and target interventions at the local level, to ensure that efficient, effective action is taken at the right place and at the right time. Natural capital accounting underpins many aspects of biodiversity monitoring.”

The first session of the Forum on 14 January highlighted the complexity and sophistication of the framework, concluding that India’s experience showed that implementation is by no means insurmountable.

“India has shown us today that it does not take decades to break down information siloes. SEEA implementation can be achieved in a short period of time, and India is a shining example of this,” said Stefan Schweinfest, Director of UN DESA’s Statistics Division. It is expected that even more countries will begin to implement this new system after the new framework is adopted by the United Nations Statistical Commission in March.

The second session underscored the policy demand in India for Natural Capital Accounting both in the public and private sector to improve decision-making and reporting. Shailja Sharma, Director General (Statistics) of India’s National Statistical Office, announced that her office would soon be releasing the Indian SEEA strategy to guide further development of the accounts and address these policy demands.

The concluding session of the NCAVES Forum will take place on 28 January.

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