Inside Climate News: How Does Nature Contribute to the Economy? These Environmental Accountants Are Trying to Find Out

In an era of rapid globalization, economic growth has come with trade-offs. To make room for urban development or fossil fuel extraction, countries often clear forests, pollute water and decimate wildlife populations. But it wasn’t until fairly recently that experts formally started to catalogue the environment’s financial contributions to society through an approach dubbed “natural capital accounting.” Natural resources underpin the global economy, from pollinators supporting agricultural supply chains to forests ensuring water quality and availability. One estimate suggests that more than half of the world’s gross domestic product is moderately or highly dependent on the environment. Keep READING.