DELWP is driving the adoption of an internationally agreed accounting framework, the System of Environmental-Economic Accounting (SEEA) to compile environmental, social and economic statistics in a coherent and consistent manner to support and inform policy, planning and investment decisions affecting
Victoria's environmental assets are fundamental to the Victorian economy and society. A healthy environment has unique intrinsic values, and contributes to the State's liveability and sustainability by providing clean water and air, and habitats for species, as well as being the basis for many Victorian
regional industries such as agriculture and tourism.
The benefits provided by a healthy environment are inadequately captured by traditional measures of progress, such as gross domestic product or employment growth. Nor do these measures take into account the state of environmental assets and our reliance on them.
In 2012, the United Nations launched a new environmental accounting system that is being adopted by DELWP, and other lead agencies internationally, as a framework for linking the quantity and quality of environmental assets to related socio-economic benefits.
The System of Environmental-Economic Accounting (SEEA) is an internationally accepted standard, with a set of accounting principles that can help recognise the interdependence of societies, economies and the environment.
DELWP is developing accounting applications based on the SEEA framework to provide better, integrated and more consistent information and analysis on our environmental assets in Victoria – information about which assets have been depleted or lost, which are declining in condition, and how the
health of these assets affects our well-being as a society.
This framework will support government policy, planning and investment decisions affecting the environment. It will also strengthen the ability of local government, business, not-for-profit and community stakeholders to recognise benefits of
protecting and investing in the environment.
For further information
please contact Environmental-Economic Accounts at EEA@delwp.vic.gov.au