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Australia Must Make the Environment Integral to Economic Decision-Making

January 17, 2017 |

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This article was originally posted on The Conversation

“…The need to recognise our natural capital is highlighted by its ongoing loss – the reductions in forests, the depletion of fish stocks, the degradation of soil, the loss of biodiversity, more severe flooding and similar trends. The human and environmental cost of these losses are invisible if you only look at GDP, and so there is little political incentive to do anything.

We must change this, and make nature integral in our calculations and decision making. Our economic system functions within, not alongside, an environmental reality. The tools have been created over the past twenty years to factor the environment into our decision making. We just need to take the next step.

…A substantive step forward was the release of the Natural Capital Protocol in July 2016 by the Natural Capital Coalition involving contributions from a wide range of stakeholders. The corporate focus has mostly been on accounting for carbon emissions and water use, but extensions into other areas are well underway…”

Read on at: The Conversation.

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