Taking Stock of the Environment

by Tom Imerito

Although looking at natural resources in terms of dollars and cents may summon images of greed-mongering capitalists lighting cigars with hundred-dollar bills, in reality a failure to account for the financial value of a nation’s natural resources and environmental services unwittingly promotes the despoilment of the environment and retards the development of poor nations.

According to Kirk Hamilton, Chief Environmental Economist for the World Bank and co-author of the book, Where is the Wealth of Nations, green accounting is known formally as Sustainable Environmental Economic Accounting (SEEA), an extension of the United Nations’ System of National Accounts (SNA), released in 2003. [Continue Reading…]