Oceanic resources which provide food, regulation services and other resources are essential for life. However, these are absent from traditional measures of national productivity (i.e. GDP). Environmental accounting provides a mechanism for bringing natural resources into view. However, a globally agreed methodology for Oceans accounting has not yet been developed under the System of Environmental Economic Accounts (SEEA). Oceans accounts are complicated due to the fact that the vast, transboundary nature of oceans, ocean assets do not stay within national borders and there is a lack of existing experiences and satellite data which can be used for measuring ecosystem extent.

Opportunities for developing an ocean account would also bring in ocean pollution condition (marine litter, eutrophication, etc.) as well as ocean ecosystem condition (biodiversity, ecosystem types); and the drivers, pressures and governance of oceans. Additionally, this work could include research on potential valuation methods. Ocean accounting refers to marine and coastal areas; however, there is also need to have a mapping between ocean accounts and other accounts (e.g. land and water accounts).

UNEP is involved in a number of efforts underway to move this work forward. UNEP, the UN Statistical Division, ESCAP and other partners are working to develop a formal statistical standard for ocean accounting in the context of the SEEA. Additionally, the Global Oceans Accounts Partnership is looking to compile and share experiences and best practices in terms of current national efforts to compile oceans accounts. ESCAP has also been researching ocean accounts topic with experts.

UNSD, UNEP and ESCAP have agreed to form a technical committee under the UN Committee for Environmental Economic Accounting (UNCEEA) to take the formation of the framework on ocean accounts forward. This will be chaired by UNEP in collaboration with WCMC, UNSD, ESCAP and others. UNEP, with Norway Funding, is currently looking to draft a background paper which could set the stage for the ocean accounting framework. UNEP is also looking to expand the TEEB to Marine and Coasts.

Contacts: UNEP: Ole Vestergaard; Jillian Campbell; Leticia Carvalho ; Link to economic valuation: Pushpam Kumar; Thierry Oliveira; link to TEEB: Salman Hussain; UNSD: Alessandra Alfieri; ESCAP: Gemma Van Halderen; Michael Bordt; Rikke Munk Hansen; WCMC: James Vause