The natural environment provides resources – such as water, land and minerals – that drive the economy and other human activities. The effective measurement of the extent of resource use is vital for ensuring the development of successful environmental management policies and sustainability. The United Nations’ System of Environmental and Economic Accounts (SEEA), adopted by Stats SA, is the international standard for measuring the amount of natural resources a country has in reserve, and how quickly these reserves are being used. Stats SA has developed the following environmental economic accounts for South Africa: energy (the amount of energy produced by coal, crude oil, gas, hydro, nuclear, petroleum, waste and renewable resources), minerals (physical stocks and flows, depletion rates, sales and resource rent for gold, coal and platinum group metals (PGMs)) and fisheries (the physical stock of hake, lobster, abalone and horse mackerel caught over time). These are published in the annual Environmental Economic Accounts Compendium report. Discussion documents on the compilation of water accounts have also been published.
In a time when good news seems hard to come by, the latest gross domestic product (GDP) results provide some cautious cheer. The South African economy grew by 1,3% in 2017, exceeding National Treasury’s expectation of 1,0% growth announced during the National Budget Speech in February. After a wobbly start to 2017, which saw economic read more »