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Background

Energy and mineral asset accounts Background and outline for future work and terms of reference Alessandra Alfieri and Ole Gravgård. Background. Rome 2003: Subgroup on mineral and energy asset accounts created (Peru, Norway, Philippines, New Zealand, Canada, Denmark)

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Background

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  1. Energy and mineral asset accounts Background and outline for future work and terms of referenceAlessandra Alfieri and Ole Gravgård

  2. Background • Rome 2003: Subgroup on mineral and energy asset accounts created (Peru, Norway, Philippines, New Zealand, Canada, Denmark) • Copenhagen 2004: results of a questionnaire on country experiences/problems presented by the subgroup – reports from countries collected • August 2005 UNCEEA: terms of reference for the sub-group

  3. Terms of reference • Objective: - further research in mineral and energy asset accounts - prepare handbook on mineral and energy asset accounts for consideration and approval by the UNCEEA • Focus on assets, but consistency with flows • Close cooperation with the Oslo Group on Energy Statistics • take into account work by Canberra II, AEG, London Group, ISWG on energy statistics

  4. TOR (continued) • Members: Experts in environmental accounting, national accounts, energy statistics, selected countries and international organizations • Statistics Denmark will be moderator of the Group, in cooperation with UNSD • Limited duration – sub group cease to exist once a Handbook has been completed • Submit reports to the UNCEEA (progress reports, conclusions, handbook chapters, etc.)

  5. Issues 1 • Classification used for physical reserves Hass and Kolshus: Harmonization of Fossil Energy and Mineral Ressource Classifications • Aggregation over different reserves (e.g. proven, probable and possible on the basis of probability of existence) • Should renewable energy resources be included in the accounts in terms of stocks?

  6. Issues 2 • Calculation of NPV: - discount rate, - rate of return to capital - treatment of (specific) taxes and subsidies - lifetime of reserves • Implementation of the capital service approach • Joint production and allocation of resource rent different products Pascoe and Webb: Allocating mineral valuations using unit record data • Heterogeneity (different quality and costs) of the reserves?

  7. Issues 3 • Year to year volatility and negative resource rents • Constant price valuation of assets Lange: Alternative Measures of the Value of ressource rent and Natural Capital in Constant Prices • The recording of depletion in the SEEA. Hamilton: Summary of the issues in the research agenda • Decomposition of changes in stock value due to human activities, natural causes and revaluation

  8. Issues 4 • Decommissioning costs and recording ownership of mineral-related assets • Extension of the methodology used for oil and gas accounts to other mineral resources • Confidentiality problems • Inclusion of financial wealth related to natural assets in the SEEA asset boundary

  9. Time table

  10. Next steps • Finalising issues list • Agreement on content of Handbook • Establishing sub group volunteers for writing of issue papers and handbook chapters

  11. UNSD website • http://unstats.un.org/unsd/envAccounting/sgmineral.htm

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