Solution for The New Economy of Nature
Explore the valuation of ecosystem services as a means to capture environmental damage and compensation needs
Unlike GDP, some new accounting-system models include mechanisms for quantifying either the advantages of ecosystem services or the costs of their destruction, thereby creating a basis for political and economic action. New methods to monetize unintended environmental damage – including loss of ecosystem services - caused by companies (for example. the Deepwater Horizon accident) could help to calculate compensation and put further pressure on these companies to fulfill due diligence and safety measures to avoid incidents.