Green measured in green

Britain’s government has placed a monetary value on its air quality, fresh water, green spaces and other environmental resources in an effort to make a financial case to preserve nature and is urging other countries to follow its example.

Caroline Spelman, the UK’s environment secretary, is proposing that countries begin “green accounting,” an audit of natural resources to be considered along standard metrics such as gross domestic product when measuring a nation’s wealth, according to the UK’s Telegraph newpaper. Britain is setting up a Natural Capital Committee, which will report to the Treasury, in the hope its findings will be considered in future national policy-making on infrastructure, education and health.

“We believe you can really drive significant ‘greening’ if you take proper account of the value of natural capital in your government accounts,” Spelman said.