Scottish Natural Capital Accounts: 2023

10. Glossary

Asset

A natural asset is a resource that can generate goods or services to humans into the future. The valuation of the natural asset estimates the stream of services that are expected to be produced over a reasonably predictable time horizon.

Ecosystem services

Ecosystem services are the living (biotic) components of the Earth that provide services to humans, such as woodland.

Overbark

The volume of wood including the bark. Can be either standing volume or felled volume.

Physical flow

The physical flow of a natural asset is the measure of its output in units appropriate to the good or service. This differs from the annual value and asset value, which measure the monetary value of a natural resource.