Assigning Economic Value to Natural Resources (1994) / Chapter Skim
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3 The Feasibility of Incorporating Environmental and Natural Resource Availablility Into the National Accounts
3 The Feasibility of Incorporating Environmental and Natural Resource Availablility Into the National Accounts
Pages 47-58
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From page 47... ...
more information on natural resources and the environment reflect concerns that the ability of the accounts to perform their basic functions is inhibited by a deficient treatment of natural resources and the environment. The current accounts do not, for example, record changes in environmental quality and most natural resource reserves.
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From page 48... ...
Waste disposal services provided by air, land, and water in absorbing pollution are assigned a zero value because no one charges for them. The benefits of maintaining natural resources and a clean environment, such as preservation of biodiversity and enhanced recreation opportunities, are ignored for the same reason.
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From page 49... ...
permits for use of the waste disposal services of the . environment 10 Waste disposal and other services to industry and commerce of clean air, land and water 13 Final services of businessowned capital 14 Final services of infrastructure to households 15 Final services (benefits)
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Natural resources are ciivicled into renewable and nonrenewable stocks. Renewable resources include agricultural lands, recreational areas, forests, lakes, streams, grasslands, wetlands, fisheries, and wildlife.
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In addition, there are the nonmarketed factor services of publiclyowned reproducible capital (cell 8~; the factor services human capital of volunteers (cell 91; environmental waste disposal factor services (cell 101; and the factor services from natural resources (cells I!
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Major service flows not identifiable Underground market activities are not included in GDP and are not represented. Category of Service Flows PRODUCI1ON BOUNDARY SHOWN Marketed^ Nonmarketed Service Flows included in GDP 17 ~ 9 ~ 10 11 *
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From page 53... ...
and the costs of reducing pollution damages counted in GDP. Expanding the Asset Boundary to Record Changes in Natural Resources and the Environment Expanding the asset boundary to record changes in natural resources and the environment implies that values for depletion ant!
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__ 15 3 9 16 4 10 17 5 11 * SOURCE: Congressional Budget Office *
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mean that expanded definitions of national income could now be calculated. A measure of a "green" GDP, for example, wouici count the final nonmarketed services of natural resources anti the environment.
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17 61 12* 18 SOURCE: Congressional Budget Office $ Major service flows not identifiable
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CONCLUSIONS Incorporating more information on natural resources and the environment into the accounts ("green accounting") will require much conceptual work and data gathering.
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From page 58... ...
The focus of these initial efforts is logical since it is possible to estimate the costs of reducing pollution damages largely from data airea(ly collected in compiling the national accounts. Likewise it is possible to estimate environmental degradation and natural resource depletion largely from market data on the costs of maintaining environmental quality and revenues from goods and services from natural resources.
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