ENVIRONMENTAL CAPITAL OF IRAQ: GENERAL PROVISIONS AND ACCOUNTING ASSESSMENTS

UDC 630*652(567)

  • Bahedh Haydеr Azeez − PhD student, the Department of Management, Business Technology and Sustainable Development. Belarusian State Technological University (13a, Sverdlova str., 220006, Minsk, Republic of Belarus). E-mail: bahtdh55@gmail.com

DOI: https://doi.org/10.52065/2520-6877-2022-256-1-152-159

Key words: ecological capital, natural capital, ecological framework, ecosystem services, reproduction rent, ecological rent, valuation.

For citation: Bahedh H. A. Environmental capital of Iraq: general provisions and accounting assessments. Proceedings of BSTU, issue 5, Economics and Management, 2022, no. 1 (256), pp. 152–159 (In Russian). DOI: https://doi.org/10.52065/2520-6877-2022-256-1-152-159.

Abstract

An attempt was made to reveal the actual aspects of the physical and cost accounting of ecosystem (environmental) capital in the country’s national accounting system. The used natural resources and ecosystem services of nature act as specific economic assets, bringing certain benefits in the form of natural capital, which in turn has a significant impact on the final value of the county’s national wealth.

The lack of sufficient experience in the economic evaluation of natural capital does not allow today to have an effective system for accounting for all national wealth.

At present, the county’s economy is fully faced with the problem of more accurate valuation and accounting of natural capital as part of national wealth, which is considered as a combination of natural resources and ecosystem services.

The structuring of the ecological resource and the classification of ecosystem services accepted by the world community in the context of the formed ecological accounting and its object – ecological capital are given.

Ecological capital is singled out separately as part of natural capital. In the physical accounting of ecological capital, the main object is the ecological frame of the territory, which includes the main elements of the natural environment. The methodology for the valuation of environmental capital is proposed to be developed on the basis of the theory of reproduction rent.

The developed provisions for the physical and cost accounting of environmental capital have been tested on the example of the environmental capital of Iraq.

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