Green GDP

In April of 1994, the Department of Commerce Bureau of Economic Analysis (BEA) announced its economic-environmental accounting framework, or "Green GDP," -- an effort initiated by the President in his Earth Day 1993 remarks. Natural resources and environmental quality are important productive assets that must be preserved in a healthy economy. Just as the economic ledger includes an entry for depreciation of plant and equipment, an entry should also be made to record the degradation of natural assets. Recording the full range of these costs, or the value of investing in environmental improvement, provides a clearer picture of the nation's wealth and a measure of sustainable income.
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