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WHEN it comes to preventing climate change, our strongest ally is nature itself, but the drive to unleash nature’s full potential to absorb carbon, prevent floods and heal from years of abuse is struggling.
The biggest barrier to creating a sustainable future is not climate scepticism, or the scale of the problem or even cost: It’s an accounting anomaly.
The value of our natural environment does not appear as an asset on our national accounts or corporate balance sheets, nor does pollution or diminishing biodiversity appear as costs. Beyond the obvious problem that this arrangement does nothing to deter new emissions or preserve vital environmental systems by registering the costs of pollution or damage to biodiversity, it also means there is no immediate bottom-line return on investment in sustainable business practices.
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