The Evolution of Natural Capital Accounting: From Origins to System of Environmental-Economic Accounting

The valuation of natural capital has become an increasingly important issue in the environmental debate and in public policies, given the growing awareness that human well-being depends on the health of terrestrial ecosystems and their services. Natural Capital Accounting (NCA) proposes a solution to measure and value the ecosystem services provided by natural systems, integrating them into economic decision-making processes. However, the wide range of ecosystem resources and services that our natural environment provides is often overlooked or taken for granted, leading to unsustainable practices and the degradation of natural resources. This research proposes an analysis of the evolution of natural capital accounting over time, examining the origins, significant developments and achievements of the approach, with a focus on the methodologies and tools applied. The System of Environmental-Economic Accounting (SEEA) is an important tool for putting this recognition into practice, providing a standardized and coherent approach to measuring and evaluating natural capital. SEEA enables the identification of trade-offs and synergies between economic and environmental objectives and supports the development of policies and practices that promote sustainable development, ensuring the sustainable and equitable use of natural resources. The paper highlights the potential of the SEEA approach to provide useful results and support effective decision-making, emphasizing the importance of considering natural capital as a key element that can be integrated into policy strategies and spatial planning.