Gross Ecosystem Product and Ecological Asset Accounting for Eco-Compensation: Methodology and Pilots in Qinghai, Yunnan, and Guizhou Provinces

Attempts have been made globally to find new accounting indicators, beyond GDP, to quantify the contribution of ecosystems to human welfare and socioeconomic development. Through its eco-compensation and ecological civilization policies, the People’s Republic of China (PRC) has integrated ecological benefits into economic and social development evaluation system and has established a natural capital accounting system. This presentation features the new accounting systems for ecosystem goods and services—gross ecosystem product (GEP) and ecological asset accounting—and how they have been piloted in the PRC to advance sustainable development agenda.