Measuring and Accounting for Environmental Public Goods

This book provides essential strategies for integrating natural capital into environmental statistics, enhancing the understanding of public goods and their value.

In Measuring and Accounting for Environmental Public Goods, the authors delve into the critical need for integrating natural capital into environmental statistics. They highlight the limitations of traditional national income and wealth accounting practices, which often overlook the value of environmental public goods. This volume serves as a comprehensive examination of both the conceptual frameworks and empirical methodologies necessary to address this gap, focusing on essential resources such as forests, oceans, and air.

The book presents innovative approaches to valuing nonmarket environmental goods and services. It emphasizes the importance of capturing heterogeneity in measurement across different types of capital, geographical areas, and individual circumstances. Each chapter tackles significant topics, including measuring productivity while accounting for pollution damage, creating a microdata infrastructure to better understand the distribution of environmental amenities and hazards, and developing long-run sustainable development indicators.

Additionally, case studies within Measuring and Accounting for Environmental Public Goods explore various environmental assets, such as coastal resources and marine ecosystems. The authors propose effective strategies for implementing environmental-economic accounts, including natural capital accounts specifically for forests and the marine economy. As national income accounting standards evolve to better incorporate natural capital considerations, this timely book will significantly inform public policy decisions regarding climate, air, water, and other vital public goods.