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Release: UK Natural Capital, Initial and Partial Monetary Estimates

Released: 02 May 2014

Contact

Jawed Khan

Measuring National Well-being

jawed.khan@ons.gsi.gov.uk

Telephone: +44 (0)1633 456278

Categories: Economy, National Accounts, Satellite Accounts, Environmental Satellite Accounts

Frequency of release: Ad-hoc

Language: English

Geographical coverage: UK

Geographical breakdown: UK

  • A first attempt by the Office for National Statistics (ONS) to expand on existing approaches to estimate a monetary value for components of UK natural capital for the period of 2007 to 2011. ONS estimates that the monetary estimate of selected components of UK natural capital was £1,573 billion in 2011, 4.1% lower than in 2007. This is mainly due to a fall in the monetary value of UK sub-soil assets. It is important to emphasise that these numbers reflect attempts to estimate a limited segment of the UK’s total natural capital. However, they provide an illustration of some of the methodologies that ONS is employing to value these components and how their value may be evolving over time. The methodology to develop these estimates remains under development and the estimates reported should be considered experimental. Further work will be undertaken to develop and improve them.
Monetary estimates of the UK's natural capital. Natural capital includes all natural resources including ecosystem assets and the services that they provide. Valuation of natural capital is important because it provides a common metric through which it can be compared with other forms of capital. Integrated and comprehensive natural capital accounts can in principle provide the basis for key indicators of economic performance and sustainability.
Content from the Office for National Statistics.
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