- Green accounting
Green accounting is a type of
accountingthat attempts to factor environmental costs into the financial results of operations. It has been argued that gross domestic productignores the environment and therefore decisionmakers need a revised model that incorporates green accounting. [ [http://www.gwagner.com/research/green_accounting/index.html Gernot Wagner | Research | Green Accounting ] ] It is a controversial practice however, since depletionis already factored into accounting for the extraction industries and the accounting for externalities may be arbitrary. Julian Lincoln Simonargued that use of natural resources results in greater wealth, as evidenced by the falling prices over time of virtually all nonrenewable resources.
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