Applying marine and Coastal Ecosystem Accounting in an estuary managed by a Not-for-profit Organisation: Evidence from Australia

Abstract

This paper explores the application of the System of Environmental-Economic Accounting - Ecosystem Accounting (SEEA-EA) framework in the Derwent Estuary in Tasmania, Australia, which is managed by a not-for-profit organisation. Following the principles of the SEEA-EA, we constructed a set of ecosystem accounts, inclusive of ecosystem extent (covering the key ecosystems present in the Derwent Estuary), ecosystem condition (seagrass and rocky reef) and associated ecosystem services flows (global climate regulation, fish nursery and recreational fishing) in physical and monetary terms. The ecosystem accounts highlight the importance of ecosystems such as seagrass in providing economic benefits and social well-being at the local level. We also identified significant data gaps for marine and coastal environments, which may limit the ability to implement a full set of ecosystem accounts. However, our case study establishes initial steps for the development of marine and coastal ecosystem accounting (EA) in the Derwent Estuary, offers recommendations for organisations and government agencies and provides guidance for potential future research.