This report is about a standardized framework for conducting environmental-economicassessments of ecosystems and ecosystem services. The framework integrates the use ofEarth Observation (EO) data as inputs to compile ecosystem accounts. The report specificallyfocuses on the System of Environmental Economic Accounting, as the leading methodology toaccount for natural capital. The report provides a comprehensive overview of the progress madein natural capital accounting, with a particular focus on the implementation of the SEEA EAframework through the integration of EO data. It also highlights how countries, particularly thosewithin the European Union, have embraced these standards to support key policy initiatives,such as the EU Green Deal and biodiversity conservation goals.