The White House today announced a Joint Statement with the Governments of Australia and Canada on an agreement to establish the Partnership on Cooperation on Natural Capital Accounting, Environmental Economic Accounting, and Related Statistics, and develop a common approach to natural capital accounting, environmental-economic accounting, and environmental-economic statistics.
Among other things, the initial Partnership participants noted the importance of natural capital accounts and environmental-economic statistics “as collections of organized, accurate, and reliable information” that supports environmental and economic planning and decision-making.
Participants intend to address topics including accounting for large and biodiverse spatial areas, coordination across multiple states and territories, and incorporating diverse cultures, as well as (1) coordinate participation in international venues in order to advance the development and adoption of a natural capital accounting approach, and (2) encourage other countries to incorporate nature into economic decision-making.
Pursuant to the Joint Statement, participating countries will hold an annual dialogue among senior officials, and convene a technical working group every six months. The Joint Statement notes that additional countries may be invited to become participants in the partnership.
