ABSTRACT
This chapter provides an overview of progress on the System of Environmental Economic Accounting (SEEA). The main goal of the SEEA is to better monitor the interactions between the economy and the state of the environment to inform decision-making, typically at the national level. To track the wealth of a nation the aggregate values of ecosystem services at the regional or national level should ideally be replicated and updated annually. The chapter discusses the inclusions of spatially explicit physical and monetary accounts for ecosystems (SEEA EEA). The chapter also discusses some key challenges and ways forward for monetary valuation of ecosystem services, benefits and assets within the accounting framework. Many ecosystem services and benefits such as fish, grains, timber and products derived from these have market prices which are relevant exchange values and therefore compatible with national accounting and SEEA EEA. The chapter concludes with some limitations of the SEEA accounting framework and future directions.
