Press Release for NESC Event – Making Nature Visible: What Can Natural Capital Accounting Do For Us?

• 12 March 2024
• Topics: Economic Environment
• Types: Press Releases

• Today the National Economic and Social Council (NESC) held an event to discuss the potential of natural capital accounting in Ireland.
• The event followed the recent publication of the NESC report “Natural Capital Accounting: A Guide for Action.”
• Drawing upon the insights from the latest NESC report, this event examined the fundamental question: “What Can Natural Capital Accounting Do For Us?”

Tuesday, 12^th March 2024: Natural Capital Accounting (NCA) serves as a powerful tool and information system for nature designed to quantify changes in the stock and condition of ecosystems, including vital resources such as rivers and forests. It involves including environmental data in the national economic accounts and valuing the many benefits nature provides, like clean air, water and biodiversity.

This event on increasing the visibility of nature in policy through natural capital accounting, featured a range of policy and expert speakers who discussed what is happening in research and practice in Ireland; where NCA can be useful applied; and what is needed to progress NCA in Irish policy and practice. A key focus of the event is how NCA can help to equip Ireland as it works to address biodiversity and climate challenges.

A leading global expert in natural capital accounting addressed this event, setting out the latest state of play of natural capital accounting around the world. Speaking at the NESC event, international expert Carl Obst said,

“Countries in Europe and around the world are applying natural capital accounting to better equip themselves to address the range of global environmental challenges including climate, water and biodiversity. Natural capital accounts help us consistently quantify our connection to nature so that we can better manage for environmental, economic and social outcomes. It is very welcome and timely that Ireland is having this conversation today.”

In welcoming Carl and the other attendees to the event, Director of NESC Dr Larry O’Connell said,

“Today is an important opportunity to discuss natural capital accounting, which the Council considers to be an important part of the solution to working more closely with nature. Bringing together a wealth of expertise and perspectives, we’re delighted that NESC can support this engagement and help to shine a light on how it this tool and information system can increasingly inform the policy system.”

A full event programme can be found HERE.

To read the full report you can find it HERE.

ENDS.

For further information, contact:

Danielle Fitzpatrick

Account Executive, Carr Communications

+353-83-826-3716