Gross ecosystem product (Gep) accounting for ecological services: A review and methodological framework

Gross Ecosystem Product (GEP) is one of the measurement and aggregate economic indicators of final goods and services that has been provided by nature such as terrestrial, wetland, coastal and other ecosystem services for a given period. Most of the ecosystem goods and services are not traded in the market due to lack of market price or imperfect market. But several ecosystem services such as regulating services including carbon sequestration, water purification, flood protection, pollination services have been vital contributions to human well-being. The current economic development indicators like Gross Domestic Product (GDP) has not been able to fully capture the benefits we are receiving from natural ecosystems. Therefore, the recent System of Environmental Economic Accounting and Ecosystem Accounting (SEEA-EA) under United Nation Statistical Division has introduced GEP for accounting ecological goods and services by various ecosystem at the local, national, and international level. The main aim of the paper is to present the review of GEP at the global level and its methodological framework associated with Karnataka.

Valuation of Environmental Effects Q51

Environment and Development; Environment and Trade; Sustainability;

Environmental Accounts and Accounting; Environmental Equity; Population Growth Q56

Ecological Economics: Ecosystem Services; Biodiversity Conservation;

Bioeconomics; Industrial Ecology Q57