The System of Environmental Economic Accounting (SEEA) framework integrates economic and environmental data to analyse the relationships between environment and economy. SEEA encompasses the SEEA-Central Framework (SEEA-CF) and the SEEA- Ecosystem Accounting (SEEA-EA). Although SEEA-CF and SEEA-EA both mainstream the environment in the economy and society, each takes a different perspective. SEEA-CF was published first (1993, see Figure 3.1) and measures stocks and flows of individual environmental assets that are already present in the economy, such as production of timber, crops, and minerals. They are accounted for in the System of National Accounts (SNA) and contribute to Gross Domestic Product. The environment, however, does not stop at the borders of the SNA. Measuring the impacts of the environment on the economy and human well-being necessitates going beyond the economy to embrace the bigger picture. The SEEA-EA uses ecosystems to provide a more integrated view of the interaction between the environment, the economy, and society.

Natural Capital Accounting (NCA) is an umbrella term covering efforts to use an accounting framework which provides a systematic way to measure and report on stocks and flows of natural capital. It covers accounting for individual environmental assets or resources, both living and non-living (e.g. minerals, timber, and energy), as well as accounting for ecosystem assets (e.g. forests, wetlands), biodiversity and ecosystem services. SEEA-CF and SEEA-EA can both be considered components of NCA.

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