For decades, we’ve tracked national prosperity by looking at how much we produce and consume—our Gross Domestic Product (GDP). But there’s a glaring gap in this measure: nature. Forests, wetlands, rivers, pollinators, and healthy soils are the unsung heroes behind our economies. They purify water, pollinate crops, regulate the climate, and support livelihoods, especially in rural communities. Yet none of these services appear in national budgets or financial statements. The result? A world that appears to be growing richer, while silently becoming poorer in natural wealth.
In Kenya, the consequences of ignoring nature in economic accounting are all too visible. Over 70% of the population relies directly on natural ecosystems for food, water, energy, and income. Yet forests continue to shrink, drylands are degraded, and water towers are under threat. Despite these warning signs, economic growth remains the dominant metric, ignoring the cost of degraded ecosystems, declining biodiversity, and climate vulnerability.
Globally, we are witnessing unprecedented ecological change. According to the Millennium Ecosystem Assessment, 60% of the world’s ecosystem services are being degraded or used unsustainably. Coral reefs and mangroves are disappearing. Marine fish stocks are in crisis. Water demand is rising, but supply is dwindling. And while these changes impact human well-being, from nutrition and health to livelihoods and security, they remain invisible in most financial reports.
This is where environmental-economic accounting comes in. The UN’s System of Environmental-Economic Accounting (SEEA) and Ecosystem Accounting frameworks offer a way to bridge this gap. They help governments and businesses assess natural capital, track ecosystem service flows, and understand the costs of environmental degradation. By integrating nature into economic planning, countries can make smarter policy decisions, align investments with sustainability goals, and ensure long-term prosperity.
Kenya has a unique opportunity to lead in this space. Incorporating natural capital accounting into our national and county planning frameworks could transform how we approach development. By mapping our ecosystems, quantifying their economic value, and recognizing the true cost of their loss, we can direct investments toward conservation, restoration, and nature-based solutions. This not only safeguards the environment but also enhances food security, builds climate resilience, and supports inclusive economic growth.
The 2021 Dasgupta Review was a wake-up call for the world: nature is not an optional extra—it’s the foundation of all economic activity. If we don’t account for it, we can’t manage it. And if we continue to ignore it, we risk not just ecological collapse, but also economic instability and social unrest.
At Majira Eco Limited, we believe that nature must be counted—not just cherished. We must start budgeting for biodiversity, investing in ecosystem services, and recognizing the wealth that flows from healthy landscapes. Because while nature may not send us a bill, it always collects. The question is whether we’ll pay attention before the costs become irreversible.
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