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         Environment Glossary



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Term
Economic Assets
Description assets recorded in the balance sheets of conventional national accounts. The 1993 System of National Accounts (Commission of the European Communities and others, 1993) defines economic assets as entities (a) over which ownership rights are enforced by institutional units, individually or collectively and (b) from which economic benefits may be derived by their owners by holding or using them over a period of time. Economic natural assets can be produced assets such as agricultural products or non-produced assets such as land, mineral deposits or forests in the wilderness. In the SEEA, economic non-produced natural assets are defined more broadly, including also those natural resources which are currently exploitable, or likely to be so, for economic purposes, even if no explicit ownership or control is currently exerted over these resources (e.g. fish in the oceans, or commercially exploitable timber in tropical forests). See also cultivated natural assets, non-produced assets and environmental assets.