Selecting discount rates for natural capital accounting (2013)
Environmental assets provide a series of benefits to individuals and to society and, in principle, all of the benefits delivered by the environmental assets should be accounted for. However, to be consistent with the System of National Accounts (SNA), the scope of valuation is limited to valuing the benefits that accrue to economic owners. The System of Environmental-Economic Accounting Central Framework (SEEA CF) defines an economic owner as the institutional unit entitled to claim the benefits associated with the use of an asset in the course of an economic activity by virtue of accepting the associated risks. In the case of environmental assets, the government has a high degree of ownership or influence over the extraction of environmental assets. The valuation of these assets in monetary terms provides useful information for assessing future streams of income for government, for example, in the estimation of future government revenue from the extraction of oil and natural gas.
17 Sep 2018
Selecting discount rates for natural capital accounting (2013).pdf