Blog Posts: Natural Capital Accounting

December 13th, 2013

It was a Bad Idea in 1489…

By Eve Mitchell

Some things get better with age — fine wine, farmhouse cheese. Some just don’t.

It’s all the fashion these days to talk about a “new” way to ensure that companies involved in food production are held accountable for the environmental damage they do. Often called natural capital accounting or offsetting, the theory is that if we attach a notional price to, say, healthy soil and clean water, then companies can use that information to account for any damage they do, or be somehow rewarded for avoiding this damage.

Among the several difficulties with this approach are that (a) it isn’t new and (b) it doesn’t work.

To the folks promoting this stuff: please convince me that this isn’t an extension of the Enclosures and Clearances on a global scale, because it sure feels like it. Read the full article…

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