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Showing posts with the label green capitalism

The Green economy or Greed economy

Scotland will become the first state in the world to put a price on the value of its natural environment and the benefits it provides. Academics have estimated that nature is worth between £21.5bn and £23bn a year to Scotland’s economy, but Scotland’s First Minister Alex Salmond wants a far more in-depth study. He pledged to calculate the monetary value of Scotland’s natural capital, the cost of depleting it and to communicate its importance across business and society. He will also set up collaborative projects to take “tangible action” to protect Scotland’s natural capital.

Supporters of the scheme argue that because most development decisions are based on narrow economic considerations, in terms of the direct costs and benefits, natural resources such as peat should be valued in the same way to ensure their importance is not overlooked. Peat bogs act as water regulators, soaking up rainfall and slowing water flows, helping to curb the frequency and intensity of floods. They also p…