Green Economy sets out to rectify the failure of classical economics witnessed with regard to climate change and biodiversity loss by assigning a monetary value to nature and by integrating ecosystem services into the market system. Quantifying (accounting), appropriating and offsetting are the key methods of this route out of the climate and biodiversity crisis.
Quantification: accounting natural assets
Perhaps the most succinct expression of economic failure with regard to nature comes from Pavan Sukhdev: “We use nature because it’s valuable, but we lose it because it is free.” With this remark, Sukhdev places the question of the “value of nature” at …read more
Source: Heinrich Boell Foundation