The real cost of economic growth
The economy is run by economists who are swayed by figures and facts.
05 March 2009
In order to sway these decision-makers, the concept of sustainability and environmental conservation need to be translated into a monetary figure. Fortunately there are some answers, some of which are provided by the World Bank
THERE EXISTS A STRONG CASE FOR ENVIRONMENTALISTS to work within the capitalist economic system, valuing nature as a means to ‘mainstreaming sustainability’ and integrating the triple bottom line. With the machinery of decision-making geared towards economics, how can we account for the real value, in a common currency, of sustainable development? The World Bank has suggested a methodology, Adjusted Nett Savings (ANS), to make this calculation. ANS takes the economic production of a country subtracted by the consumption of fixed capital involved in the process to providing a nett economic value-add.
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