RegulationCorporate GovernanceGreen accounting ‘to protect nature’s bank’

Green accounting 'to protect nature's bank'

Green accounts would protect Mother Nature's bank and support economic growth, according to Defra

GREEN ACCOUNTS may be produced by the Department for Environment, Food and Rural Affairs in order to show annual usage of natural resources, Public Finance reports.

The idea stems from a Defra white paper entitled The natural choice: securing the value of nature, which proposes the accounts would be used to show green growth alongside economic growth, saying the two are “mutually compatible”.

Environment secretary Caroline Spelman said: “We need to recognise that, if we withdraw something from Mother Nature’s bank, we’ve got to put something back in to ensure that the environment has a healthy balance and a secure future.”

CIPFA assistant director for policy Tom Lewis welcomed the move. He said: “It represents an important development in sustainability reporting at above-organisational level.”

 

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