​

Phase 1 - Methods and Data: 

​

• Produce a literature review on natural capital accounting to explore the various methodologies that are in use around the world.

• Identify available data sources along with data gaps. These data sources will inform the accounts, and contribute to the development of a framework for Natural Capital Accounting in Ireland.

• Professor Jane Stout of Trinity College Dublin leads this Work Package.

 

Phase 2 - Ecosystem Accounts:

​

• Select four river catchments for study.

• Collate existing datasets and develop indicators, and use them to generate a range of ecosystem accounts that describe habitat condition, habitat extent, as well as environmental flow accounts that might include water, land use and carbon.

• Use these case studies to test the strengths and weaknesses of the accounts, and identify the data gaps.

• Develop a framework to guide the appropriate use of monetary valuation and determine how these values can be integrated with existing economic and environmental policies to inform decision-making. While these accounts do not necessarily require monetary valuation, we will assess the efficacy of monetising the benefits to people that certain ecosystem services provide. 

• Professor Mary Kelly Quinn of University College Dublin leads this Work Package.

​

​

Phase 3 - Economic Analysis:

​

• Use an input-output model to assess the impact of policy change on natural capital stocks.

• Use data visualisations to produce sectoral natural capital management frameworks.

• Produce a gap analysis of information monitoring systems and policies underpinning them.

• Conduct economic impact assessments to better understand the trade-offs between policy options.

• Professor Stephen Kinsella of the University of Limerick and Professor Cathal O'Donoghue of NUI Galway each lead portions of this Work Package.