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    FOIA Number: 2012-0769-F FOIA MARKER This is not a textual record. This is used as an administrative marker by the William J. Clinton Presidential Library Staff. Collection/Record Group: Clinton Presidential Records Subgroup/Office of Origin: Council on Environmental Quality Series/Staff Member: Kathleen (Katie) McGinty Subseries: OA/ID Number: 2897 FolderID: Folder Title: Environmental Accounting Meeting October 9, 1990 Stack: Row: Section: Shelf: Position: S 61 6 3 1 Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures List of Participants Senator Al Gore Senator Jeff Bingaman Congresswoman Olympia J. Snowe Mr. Stephen Viederman, Jessie Smith Noyes Foundation Mr. Conn Nugent, Nathan Cummings Foundation Dr. Robert Repetto, World Resources Institute Dr. Herman E. Daly, The World Bank Dr. Mohan Munasinghe, The World Bank Dr. Salah El Serafy, The World Bank Dr. Robert Costanza, University of Maryland Dr. Henry Peskin, consulting economist Dr. Carol Carson, Department of Commerce Dr. Richard Greg Michaels, U.S. EPA Dr. Bill O'Neil, U.S. EPA Ms. Barbara Bramble, National Wildlife Federation Dr. Peter Bartelmus, U.N. Statistical Office Staff of the Joint Economic Committee, U.S. Congress ##### Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures List of Participants Senator Al Gore Senator Jeff Bingaman Congresswoman Olympia J. Snowe Mr. Stephen Viederman, Jessie Smith Noyes Foundation Mr. Conn Nugent, Nathan Cummings Foundation Dr. Robert Repetto, World Resources Institute Dr. Herman E. Daly, The World Bank Dr. Mohan Munasinghe, The World Bank Dr. Salah El Serafy, The World Bank Dr. Robert Costanza, University of Maryland Dr. Henry Peskin, consulting economist Dr. Carol Carson, Department of Commerce Dr. Richard Greg Michaels, U.S. EPA Dr. Bill O'Neil, U.S. EPA Ms. Barbara Bramble, National Wildlife Federation Dr. Peter Bartelmus, U.N. Statistical Office Staff of the Joint Economic Committee, U.S. Congress ##### THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT 1/2/91 called stere Viederman - he will send names that he may know. (f told him Cooking for mid ~45,000. - lerel / pH D we nec.) fritec. I PHOTOCOPY PRESERVATION SERGEANT AT ARMS TRIPLICATE United States Senates No 087156 Request for Report on Mechanical Equipment. Date October 10, 1990 NAME Suite No. SR396 Building Russell To Senator Gore FROM Office Machines (Loans) Requested by Approved by Date P.O. NO: ASSIGNMENT Trade in Sale REPAIRS Clerk Hire (C) Regular (1) Temp. ( ) Perm. ( ) Exchange () ( ) 5 3 O.H. ( ) Shop Equipment: Transcriber MakeSony BM-50A Serial No. 14567 $ If equipment is returned: Remarks: ATTN: Mary Margaret or Jean Kerr TEMPORARY LOAN ONLY. TO RECURN EQUIPMENT PLEASE CALL 4-3384. Service Department O.K. Pat Northern Equipment Equipment received requested by by DRAFT/October, 3, 1990 October 4, 1990 Dear : You are cordially invited to a meeting on the current status and future prospects for national and international efforts to incorporate natural resource depletion and other environmental criteria into national income accounting systems. The meeting will occur on Tuesday, October 9, from 9 am until 11 am, in room 385 of the Russell Senate Office Building. The purpose of the meeting is to discuss the current status of environmental accounting initiatives at the U.N., World Bank, in the U.S., and in other nations, and to determine whether there are opportunities for Congress to facilitate movement toward incorporating natural resources and other environmental criteria into national income accounting systems. Enclosed you will find a list of participants for the meeting, as well as a draft agenda. On behalf of my colleagues and the Jessie Smith Noyes Foundation, thank you your interest and participation. I am looking forward to your participation in what I am sure will be an informative and productive meeting. With best regards, Sincerely, Al Gore enclosures October 10, 1990 Dear I would like to thank you for participating in yesterday's meeting on environmental accounting. I was very pleased with the meeting, and felt that it was extremely productive. A lot of good ideas were discussed, and numerous questions were raised for future study. We have a good base to build on in the months to come. I consider this issue to be of utmost importance, and I will be dedicating a substantial amount of my time to it in the months to come. I hope that you will allow me the opportunity to call upon your expertise as the work proceeds. Thanks again for helping to make the meeting a success. With best regards, Al Gore Al- Think-you for prrkcipzats in Yesterday's meeting. Please 2pprove. Rick Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Agenda 9:00 - 9:05 Welcome 9:05 - 9:15 Conceptual Overview of Incorporating Environmental Criteria into National Income Accounts, Dr. Robert Repetto 9:15 - 9:25 Discussion and Questions 9:25 - 10:00 Activities Related to Incorporating Environmental Criteria into National Income Accounts 9:25 - 9:30 U.N. Statistical Office, Dr. Peter Bartelmus 9:30 - 9:35 Discussion and Questions 9:35 - - 9:40 The World Bank, Dr. Mohan Munisinghee 9:40 - 9:45 Discussion and Questions 9:45 - 10:00 The U.S. Government 9:45 - 9:50 Dr. Carol Carson, U.S. Dept. of Commerce 9:50 - 9:55 Dr. Greg Michaels, U.S. EPA 9:55 - 10:00 Discussion and Questions 10:00 - 10:10 Break 10:10 - 11:00 Discussion + Incorporating environmental criteria into other economic measures + Opportunities for Congress to facilitate incorporation of environmental criteria into national income accounts and other economic measures ##### Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Agenda 9:00 - 9:05 Welcome 9:05 - - 9:15 Conceptual Overview of Incorporating Environmental Criteria into National Income Accounts, Dr. Robert Repetto 9:15 - 9:25 Discussion and Questions 9:25 I - 10:00 Activities Related to Incorporating Environmental Criteria into National Income Accounts 9:25 - 9:30 U.N. Statistical Office, Dr. Peter Bartelmus 9:30 - 9:35 Discussion and Questions 9:35 - 9:40 The World Bank, Dr. Mohan Munisinghee 9:40 - 9:45 Discussion and Questions 9:45 - 10:00 The U.S. Government 9:45 - 9:50 Dr. Carol Carson, U.S. Dept. of Commerce 9:50 - 9:55 Dr. Greg Michaels, U.S. EPA 9:55 - 10:00 Discussion and Questions 10:00 - 10:10 Break 10:10 - 11:00 Discussion + Incorporating environmental criteria into other economic measures + Opportunities for Congress to facilitate incorporation of environmental criteria into national income accounts and other economic measures ##### Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Agenda 9:00 - 9:05 Welcome 9:05 - 9:15 Conceptual Overview of Incorporating Environmental Criteria into National Income Accounts, Dr. Robert Repetto 9:15 - 9:25 Discussion and Questions 9:25 - 10:00 Activities Related to Incorporating Environmental Criteria into National Income Accounts 9:25 - 9:30 U.N. Statistical Office, Dr. Peter Bartelmus 9:30 - 9:35 Discussion and Questions 9:35 - 9:40 The World Bank, Dr. Mohan Munisinghee 9:40 - 9:45 Discussion and Questions 9:45 - 10:00 The U.S. Government 9:45 - 9:50 Dr. Carol Carson, U.S. Dept. of Commerce 9:50 - 9:55 Dr. Greg Michaels, U.S. EPA 9:55 - 10:00 Discussion and Questions 10:00 - 10:10 Break 10:10 - 11:00 Discussion + Incorporating environmental criteria into other economic measures + Opportunities for Congress to facilitate incorporation of environmental criteria into national income accounts and other economic measures ##### Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Agenda 9:00 - 9:05 Welcome 9:05 - 9:15 Conceptual Overview of Incorporating Environmental Criteria into National Income Accounts, Dr. Robert Repetto 9:15 - 9:25 Discussion and Questions 9:25 - 10:00 Activities Related to Incorporating Environmental Criteria into National Income Accounts 9:25 - 9:30 U.N. Statistical Office, Dr. Peter Bartelmus 9:30 - 9:35 Discussion and Questions 9:35 - 9:40 The World Bank, Dr. Mohan Munisinghee 9:40 - 9:45 Discussion and Questions 9:45 - 10:00 The U.S. Government 9:45 - 9:50 Dr. Carol Carson, U.S. Dept. of Commerce 9:50 - 9:55 Dr. Greg Michaels, U.S. EPA 9:55 - 10:00 Discussion and Questions 10:00 - 10:10 Break 10:10 - 11:00 Discussion + Incorporating environmental criteria into other economic measures + Opportunities for Congress to facilitate incorporation of environmental criteria into national income accounts and other economic measures ##### Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Agenda 9:00 - 9:05 Welcome 9:05 - 9:15 Conceptual Overview of Incorporating Environmental Criteria into National Income Accounts, Dr. Robert Repetto 9:15 - 9:25 Discussion and Questions 9:25 - 10:00 Activities Related to Incorporating Environmental Criteria into National Income Accounts 9:25 - 9:30 U.N. Statistical Office, Dr. Peter Bartelmus 9:30 - 9:35 Discussion and Questions 9:35 - 9:40 The World Bank, Dr. Mohan Munisinghee 9:40 - 9:45 Discussion and Questions 9:45 - 10:00 The U.S. Government 9:45 - 9:50 Dr. Carol Carson, U.S. Dept. of Commerce 9:50 - 9:55 Dr. Greg Michaels, U.S. EPA 9:55 - 10:00 Discussion and Questions 10:00 - 10:10 Break 10:10 - 11:00 Discussion + Incorporating environmental criteria into other economic measures + Opportunities for Congress to facilitate incorporation of environmental criteria into national income accounts and other economic measures ##### LIST OF PARTICIPANTS Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Ocotber 9, 1990 Senator Al Gore 393 Russell Senate Office Building Washington, DC 20510-4202 202-224-4944 Fax: 202-224-0580 Senator Jeff Bingaman 524 Hart Senate Office Building Washington, DC 20510-3102 202-224-5521 Congresswoman Olympia J. Snowe 2464 Rayburn House Office Building Washington, DC 20515-1902 202-225-6306 Dr. Peter Bartelmus Chief, Environmental Statistics Section United Nations Statistical Office 2 United Nations Plaza Room DC2-1652 New York, NY 10017 212-963-4581 Fax: 212-963-4116 Ms. Barbara Bramble Director of International Programs National Wildlife Federation 1400 16th Street, N.W. Washington, D.C. 20036 202-797-6800 Fax: 202-797-5486 Dr. Carol Carson Deputy Director, Bureau of Economic Analysis U.S. Department of Commerce 1401 K Street, N.W. Tower Building (BE-2) Washington, D.C. 20230 202-523-0707 Fax: 202-523-738 Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures October 9, 1990 Dr. Robert Costanza Associate Professor Chesapeake Biological Laboratory Center for Environmental and Estuarine Studies University of Maryland Post Office Box 38 Solomons, MD 20688 301-326-4281 Fax: 301-326-6342 Dr. Herman Daly The World Bank 1818 H Street, N.W. Washington, DC 20433 202-473-3990 Dr. Greg Michaels Office of Policy, Planning, and Evaluation U.S. Environmental Protection Agency 401 M Street, S.W. Washington, DC 20460 202-475-6197 Dr. Mohan Munasinghe Division Chief, Policy and Research Division Environment Department The World Bank 1818 H Street, N.W. Washington, D.C. 20433 202-473-3204 Fax: 202-477-0565 Mr. Conn Nugent Nathan Cummings Foundation Dr. Bill O'Neil Office of Policy, Planning, and Evaluation U.S. Environmental Protection Agency 401 M Street, S.W. Washington, DC 20460 202-475-6197 Dr. Henry Peskin 301-588-2533 Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures October 9, 1990 Dr. Robert Repetto Program Director, Economic Policies and Institutions World Resources Institute 1709 New York Avenue, N.W. Washington, D.C. 20006 202-662-3482 Dr. Salah El Serafy The World Bank 1818 H Street, N.W. Washington, D.C. 20433 202-473-3204 Fax: 202-477-0565 ee Mr. Stephen Viederman President Jessie Smith Noyes Foundation 16 East 34th Street New York, NY 10016 212-689-6549 684-6577 Fax: 212-689-6549 ##### LIST OF PARTICIPANTS Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Ocotber 9, 1990 Senator Al Gore 393 Russell Senate Office Building Washington, DC 20510-4202 202-224-4944 Fax: 202-224-0580 Senator Jeff Bingaman 524 Hart Senate Office Building Washington, DC 20510-3102 202-224-5521 Congresswoman Olympia J. Snowe 2464 Rayburn House Office Building Washington, DC 20515-1902 202-225-6306 Dr. Peter Bartelmus Chief, Environmental Statistics Section United Nations Statistical Office 2 United Nations Plaza Room DC2-1652 New York, NY 10017 212-963-4581 Fax: 212-963-4116 Ms. Barbara Bramble Director of International Programs National Wildlife Federation 1400 16th Street, N.W. Washington, D.C. 20036 202-797-6800 Fax: 202-797-5486 Dr. Carol Carson Deputy Director, Bureau of Economic Analysis U.S. Department of Commerce 1401 K Street, N.W. Tower Building (BE-2) Washington, D.C. 20230 202-523-0707 Fax: 202-523-738 Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures October 9, 1990 Dr. Robert Costanza Associate Professor Chesapeake Biological Laboratory Center for Environmental and Estuarine Studies University of Maryland Post Office Box 38 Solomons, MD 20688 301-326-4281 Fax: 301-326-6342 Dr. Herman Daly The World Bank 1818 H Street, N.W. Washington, DC 20433 202-473-3990 Dr. Greg Michaels Office of Policy, Planning, and Evaluation U.S. Environmental Protection Agency 401 M Street, S.W. Washington, DC 20460 202-475-6197 Dr. Mohan Munasinghe Division Chief, Policy and Research Division Environment Department The World Bank 1818 H Street, N.W. Washington, D.C. 20433 202-473-3204 Fax: 202-477-0565 Mr. Conn Nugent Nathan Cummings Foundation Dr. Bill O'Neil Office of Policy, Planning, and Evaluation U.S. Environmental Protection Agency 401 M Street, S.W. Washington, DC 20460 202-475-6197 Dr. Henry Peskin 301-588-2533 Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures October 9, 1990 Dr. Robert Repetto Program Director, Economic Policies and Institutions World Resources Institute 1709 New York Avenue, N.W. Washington, D.C. 20006 202-662-3482 Dr. Salah El Serafy The World Bank 1818 H Street, N.W. Washington, D.C. 20433 202-473-3204 Fax: 202-477-0565 Mr. Stephen Viederman President Jessie Smith Noyes Foundation 16 East 34th Street New York, NY 10016 212-689-6549 Fax: 212-689-6549 ##### LIST OF PARTICIPANTS Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures Ocotber 9, 1990 Senator Al Gore 393 Russell Senate Office Building Washington, DC 20510-4202 202-224-4944 Fax: 202-224-0580 Senator Jeff Bingaman 524 Hart Senate Office Building Washington, DC 20510-3102 202-224-5521 Congresswoman Olympia J. Snowe 2464 Rayburn House Office Building Washington, DC 20515-1902 202-225-6306 Dr. Peter Bartelmus Chief, Environmental Statistics Section United Nations Statistical Office 2 United Nations Plaza Room DC2-1652 New York, NY 10017 212-963-4581 Fax: 212-963-4116 Ms. Barbara Bramble Director of International Programs National Wildlife Federation 1400 16th Street, N.W. Washington, D.C. 20036 202-797-6800 Fax: 202-797-5486 Dr. Carol Carson Deputy Director, Bureau of Economic Analysis U.S. Department of Commerce 1401 K Street, N.W. Tower Building (BE-2) Washington, D.C. 20230 202-523-0707 Fax: 202-523-738 Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures October 9, 1990 Dr. Robert Costanza Associate Professor Chesapeake Biological Laboratory Center for Environmental and Estuarine Studies University of Maryland Post Office Box 38 Solomons, MD 20688 301-326-4281 Fax: 301-326-6342 Dr. Herman Daly The World Bank 1818 H Street, N.W. Washington, DC 20433 202-473-3990 Dr. Greg Michaels Office of Policy, Planning, and Evaluation U.S. Environmental Protection Agency 401 M Street, S.W. Washington, DC 20460 202-475-6197 Dr. Mohan Munasinghe Division Chief, Policy and Research Division Environment Department The World Bank 1818 H Street, N.W. Washington, D.C. 20433 202-473-3204 Fax: 202-477-0565 Mr. Conn Nugent Nathan Cummings Foundation Dr. Bill O'Neil Office of Policy, Planning, and Evaluation U.S. Environmental Protection Agency 401 M Street, S.W. Washington, DC 20460 202-475-6197 Dr. Henry Peskin 301-588-2533 Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures October 9, 1990 Dr. Robert Repetto Program Director, Economic Policies and Institutions World Resources Institute 1709 New York Avenue, N.W. Washington, D.C. 20006 202-662-3482 Dr. Salah El Serafy The World Bank 1818 H Street, N.W. Washington, D.C. 20433 202-473-3204 Fax: 202-477-0565 Mr. Stephen Viederman President Jessie Smith Noyes Foundation 16 East 34th Street New York, NY 10016 212-689-6549 Fax: 212-689-6549 ##### from Peter Bartelmus Table 2: Framework for Integrated Environmental and Economic Accounting (consolldated) Tangible assets (Table 1.3) produced non-produced natural except natural assets natural (biota) Opening stocks 991.3 83.1 1744.4 + (plus) Domestic Final Consumption Capital accumulation Rest of the Total production world (industries) Use/Value Added house- govern- produced assets non- exports/ (Table 2.2) holds ment produced imports natural except natural assets natural (biota) Use of goods and services 591.9 224.0 175.0 42.5 68.0 1.4 7.3 73.7 thereof env. protection services (36.2) (22.4) (8.8) (5.0) Gross Domestic Product (GDP) 293.4 Consumption of fixed capital 26.3 -23.0 -3.3 Net domestic product (NDP) 267.1 Use of natural assets (environmental costs) -1.6 59.8 17.1 -5.0 5.1 -0.9 -73.0 -4.7 thereof: depletion (17.5) (0.7) (-0.9) (-17.3) degradation (-1.6) (42.3) (16.4) (-5.0) (5.1) (-55.7) (-4.7) Environmental adjustment of final demand (environmental costs) 22.2 -17.1 -5.1 Environmentally adjusted net Domestic Product (EDP) 185.1 + (plus) Supply (Table 2.1) Goods and services 591.9 517.4 74.5 Imports of residuals -1.6 -1.6 + (plus) Revaluation and adjustment to market valuation 138.1 13.5 464.0 Other volume changes (marked valuation) -25.3 22.8 = (equal) Closing stocks 1149.1 93.8 2165.5 Table 2: Framework for Integrated Environmental and Economic Accounting (consolidated) Tangible assets (Table 1.3) produced non-produced natural except natural assets natural (biota) Opening stocks 991.3 83.1 1744.4 + (plus) Domestic Final Consumption Capital accumulation Rest of the Total production world (industries) Use/Value Added house- govern- produced assets non- exports/ (Table 2.2) holds ment produced imports natural except natural assets natural (biota) Use of goods and services 591.9 224.0 175.0 42.5 68.0 1.4 7.3 73.7 thereof env. protection services (36.2) (22.4) (8.8) (5.0) Gross Domestic Product (GDP) 293.4 Consumption of fixed capital 26.3 -23.0 -3.3 Net domestic product (NDP) 267.1 Use of natural assets (environmental costs) -1.6 59.8 17.1 -5.0 5.1 -0.9 -73.0 -4.7 thereof: depletion (17.5) (0.7) (-0.9) (-17.3) degradation (-1.6) (42.3) (16.4) (-5.0) (5.1) (-55.7) (-4.7) Environmental adjustment of final demand (environmental costs) 22.2 -17.1 -5.1 Environmentally adjusted net Domestic Product (EDP) 185.1 + (plus) Supply (Table 2.1) Goods and services 591.9 517.4 74.5 Imports of residuals -1.6 -1.6 + (plus) Revaluation and adjustment to market valuation 138.1 13.5 464.0 Other volume changes (marked valuation) -25.3 22.8 = (equal) Closing stocks 1149.1 93.8 2165.5 Table 2: Framework for Integrated Environmental and Economic Accounting (consolidated) Tangible assets (Table 1.3) produced non-produced natural except natural assets natural (biota) Opening stocks 991.3 83.1 1744.4 + (plus) Domestic Final Consumption Capital accumulation Rest of the Total production world (industries) Use/Value Added house- govern- produced assets non- exports/ (Table 2.2) holds ment produced imports natural except natural assets natural (biota) Use of goods and services 591.9 224.0 175.0 42.5 68.0 1.4 7.3 73.7 thereof env. protection services (36.2) (22.4) (8.8) (5.0) Gross Domestic Product (GDP) 293.4 Consumption of fixed capital 26.3 -23.0 -3.3 Net domestic product (NDP) 267.1 Use of natural assets (environmental costs) -1.6 59.8 17.1 -5.0 5.1 -0.9 -73.0 -4.7 thereof: depletion (17.5) (0.7) (-0.9) (-17.3) degradation (-1.6) (42.3) (16.4) (-5.0) (5.1) (-55.7) (-4.7) Environmental adjustment of final demand (environmental costs) 22.2 -17.1 -5.1 Environmentally adjusted net Domestic Product (EDP) 185.1 + (plus) Supply (Table 2.1) Goods and services 591.9 517.4 74.5 Imports of residuals -1.6 -1.6 + (plus) Revaluation and adjustment to market valuation 138.1 13.5 464.0 Other volume changes (marked valuation) -25.3 22.8 = (equal) Closing stocks 1149.1 93.8 2165.5 more new grants than subsequent budgets money depending on study section rank- are not likely to bring short-term relief, and have allowed the agency to sustain. At the ings. "In our calculations for the current times will continue to be tough. Acting same time, in response to pleas from the year this might permit an additional 350 NIH director William Raub asked last scientific community for more stable fund- grants to be supported," he said. Other week's forum audience to look for the silver ing, the average length of grants was grow- recommendations will be to give early, in- lining: "Some of the strongest advocates of ing from 3.4 years to the current 4.3 years. formal reviews for young scientists so that biomedical research in private go so far This means less money has been available for they will have a better chance of winning as to say a bad year now and then reinvigo- new grants and those up for competitive renewal, and creating a mechanism to sup- rates our advocacy and helps in the long renewal. To suddenly award thousands of port research teams during transitional peri- run." And some, he added, would say that new grants would solve the short-term ods as they finish one project and want to "we should look to the fruits of this anguish problem but set the stage for the same kind head in a new direction. rather than simply bemoan it." But a moan of crisis a few years down the road. Whatever long-term solutions the Bush went up from the audience even as he spoke. So what can be done? NIH has already Administration and the NIH devise, they JOSEPH PALCA begun to shift available money around. Ruth Kirschstein, head of the National In- stitute of General Medical Science, said that her institute will sometimes go out of its Multidisciplinary Look way to help the desperate-denying extra funds to a scientist with more than one grant to fund someone who has no other support, at a Finite World even if that person received a lower ranking from a study section. NIH has also used "downward negotiations," a euphemism for Fledgling field of ecological economics seeks to imbue ecology cuts, to take money from continuing grants with more theoretical rigor and bring economics down to earth to free money for new grants. But researchers feel available money just How DO YOU ASSESS THE FUTURE VALUE ripe for an economics based not on growth. won't do the trick. Some say it is time to of the spotted owl? Quantify the "gross but on "sustainability." According to World mount a massive, grass-roots lobby cam- national waste product"? Model the inter- Bank economist Herman Daly, one of the paign to convince Congress that more mon- generational impacts of the greenhouse ef- organizers of the conference and a maverick ev should be put into biomedical research. fect? Determine the earth's human carrying in his trade, this calls for replacing the old William Brinkley of the University of Ala- capacity? paradigm of the economy as a self-contained bama described efforts by the Biophysical These are questions of almost unimagin- system with one that treats it as a subset of Society and the American Society for Bio- able complexity, and they are usually ig- the biophysical system. chemistry and Molecular Biology and the nored within conventional economics and At present, said Daly, "There is no point American Society for Cell Biology to edu- ecology. But they are the kinds of things of contact between the macroeconomics and cate Congress on the importance of biomed- experts puzzled over at the first meeting of the environment." He said leading econom- ical research. Such efforts, he maintained, the International Society for Ecological Eco- ics textbooks do not even contain entries on had already helped create a more favorable nomics, held in May at the World Bank in such topics as natural resources, pollution, budget climate. Washington, D.C. and depletion. That's because most econo- But John Holmfeld, science consultant to The meeting marked the debut* of a mists treat environmental functions as "ex- the House Committee on Science, Space, "trans-discipline"-ecological economics- ternalities." Ecologists, for their part, have and Technology, warned that scientists designed to supply a bridge between the little understanding of economic con- could lose their credibility on Capitol Hill if natural sciences and economics. And it straints, said conference co-organizer Rob- thev run to Congress every time they faced seemed to have tapped a need-about 150 ert Costanza, an economist at the University what he described as a "mini-crisis." "Rather participants were expected; 372 showed up. of Maryland's Chesapeake Biological Labo- than start a lobbying campaign to solve this The attendees came to see if it made sense to ratory. They tend to stick to natural systems immediate problem," which he estimated bring under one umbrella work that has and leave out the human angle. would have less than a 50-50 chance of been conducted in recent years in resource People working in ecological economics success, he said, "you ought to think, as and environmental economics, systems ecol- are inclined to be technological pessimists. others have suggested, in strategic terms," ogy, energy, applied physics and mathemat- They start with the premise that there is no such as establishing goals and priorities for ics, operations research, and anthropology getting around the First and Second Laws of spending. "Not only do we need a better and sociology. What they had in common, Thermodynamics: since energy/matter can't idea of what's happening," said David Balti- says economist Ralph d'Arge of the Univer- be created or destroyed, resources are finite: more, the new president of Rockefeller Uni- sity of Wyoming, is that they are "a whole and that once dissipated they can't be reused versity, "but we need a model of what ought group of people with interests in a revised (entropy law). Most do not believe new to happen." macroeconomics consistent with physical technologies will be sufficient to avert major Some strategies have already been devel- and biological laws." human and ecological disasters if current oped. Floyd Bloom said an upcoming report That means they believe there are limits to trends continue. They see no alternative to from the Institute of Medicine that he growth, and some think the limits have slowing population growth and the helped write will recommend testing a slid- already been reached. Many see the time as "throughput" of environmental goods and ing scale for funding. Instead of funding services. some grant seekers fully and giving nothing Sustainability has become the rallying cry to others, Bloom said the report will recom- The Society for Ecological Economics was formed at a meeting in Barcelona in 1988. It has its own journal, for development experts in recent years, but mend providing graduated amounts of Ecological Economics, edited by Robert Costanza. the term is nonspecific. What level of eco- 18 SCIENCE, VOL. 249 8,000 group of researchers who want to replace conventional economics with an "energy theory of value." Biologist Howard Odum 7,000 of the University of Florida has devised a system for reducing all economic transac- ample he said when the raw energy that goes into shrimp exports is converted to emergy, 6 6 Source. H Daly and Cobb. For the Common Good Inflation-adjusted (1972) dollars 6,000 tions to common energy units called "emergy" (for embodied energy), defined as the solar energy that went into a product. 5,000 Using Ecuador's shrimp industry as an ex- 4,000 the country exports ten times as much as it receives. At the other end of the scale is a 3,000 country like Japan, which is getting a free ride emergy-wise. Odum's approach is controversial, to say (Boacon Pross, Boston, 1989) 2,000 the least. Perhaps more representative of '50 '53 '56 '59 '62 '65 '68 '71 '74 '77 '80 '83 '86 current efforts is an assessment of the "real" Year dollar value of Louisiana wetlands done by Per capita GNP biologist Costanza and economist Stephen Per capital ISEW including long-term environmental damage and depletion of non-renewable resources C. Farber of Louisiana State University. Per capital ISEW excluding damage and depletion They combined conventional estimates of commercial and recreational values of the Index of sustainable welfare. Herman Daly of the World Bank and John J. Cobb of the wetlands with calculations of the solar ener- Clarement School of Theology have devised a substitute model for the U.S. GNP that includes a measure of distributional equity in an "index of sustainable economic welfare" (ISEW). Adjustments are gy used by plants in the system. The gross made for a variety of factors including services, costs of pollution, loss of wetlands and farmland, and primary [energy] production was converted "defensive" government expenditures that do not add to wealth. The result is an economy that has into fossil fuel equivalents, which were in declined somewhat since the 1970s-in contrast to one continuously gaining, as reflected by GNP. turn stated in dollars, using a ratio of GNP to total economy fossil energy use. Costanza concluded that if Louisiana were looking to nomic production can be sustained, for how future. In practice it means, for example, its long-term future, it would be charging long, and for how many people? Daly be- that a slow-growing timber stand can't com- $17,000 an acre instead of the $300 to $500 lieves the first task is to come up with some pete with a dam that provides immediate (exclusive of mineral rights) the market does parameters for sustainability by establishing payoffs. Daly supplies an analogy with the now. an "optimal scale" for the world economy. goose that laid the golden eggs: at some It is through painfully complex studies One macroindicator, he said, has been of- point, the assessed future value of the egg such as these that people working on the fered by Paul Ehrlich and Peter M. Vitousek flow gets close to zero, and the "efficient" border between biology and economics of Stanford University who have estimated course is to kill the goose for its meat. want to chart sustainable paths for develop- the proportion of the world's output from But changing discount rates scarcely be- ment. So far, few decision-makers are pay- photosynthesis that humans presently use or gins to address a much larger dilemma: how ing attention to these models, which are not preempt. Currently, it is 25% of the earth's to set values on environmental goods and even understood by most conventional total photosynthetic capacity and 40% of services. Currently, said mathematician Col- economists, savs d'Arge. But they are far land-based capacity. in Clark of the University of British Colum- more substantive, say this group, than are Bevond the general goal of sustainability, bia, "much of apparent economic growth the speculations that went into the old "lim- there was little consensus at the conference may in fact be an illusion based on a failure its to growth" scenarios that economists on how to get from here to there. A lot of to account for reduction in natural capital." helped shoot down as "empty models." the talk was general, highly technical, or Resource economists have been trying for Indeed there are already signs that eco- heavy on macro-theorizing (some people years to devise ways to incorporate the logical economics is becoming institutional- want to trash neoclassical economics; others "real" costs of resources and pollution in ized: new institutes are being formed by the want to merely modify it). But some clear systems of national income accounting to Swedish Academy of Sciences in Stockholm, themes emerged. improve gross national product (GNP) esti- the University of Siena, and the University "Intergenerational equity"-making deci- mates. Economist Henry Peskin of Silver of Ottawa. Costanza said the University of sions that will not compromise life for fu- Spring, Maryland, described several ways of Maryland is also seeking funding for a grad- ture people-is one. "All decisions over time revising accounts to reflect this, including uate research training program. have been treated by economists as invest- separate identification of pollution abate- "The big challenge in the coming de- ment questions. as if all resources were ment expenditures and keeping a balance cade," he said, is "to redesign the playing always this generation's resources," said sheet of stocks of natural resources. Govern- field at the local level" in accordance with economist Richard Norgaard of the Univer- ments might tax depreciation of mineral and long-term global goals. Then Costanza of- sity of California at Berkeley. The discount petroleum reserves to slow down depletion, fered a hard-headed assessment: Because of rate has been a long-disputed example. The he added. Whatever the strategy, said Pes- the enormous uncertainties to be faced, he use of discount rates, applied to assess cost kin, "the environment has to be treated as a said, "we have to construct the best models and benefit flows of particular resource or productive sector." that we possibly can and then not believe development decisions, is based on the fact A far more radical approach to grounding them." that humans value the present over the economics in physical reality is offered by a CONSTANCE HOLDEN 6 JULY 1990 NEWS & COMMENT 19 UNITED NATIONS STATISTICAL OFFICE BRIEF ON THE HANDBOOK ON ENVIRONMENTAL ACCOUNTING 1. Background Calls for environmentally sound and sustainable growth and development reflect a general agreement on the need to integrate environmental objectives into socio-economic planning and policies. National accounts have provided the most widely used indicators for the assessment of economic performance and trends of economic growth. Two major drawbacks of national accounting have raised doubts, however, about the usefulness of national accounts data for the measurement of long-term sustainable economic growth and socio- economic development. These drawbacks are the neglect of (a) new scarcities of natural resources which threaten the sustained productivity of the economy and (b) the degradation of environmental quality from pollution and consequential effects on human health and welfare. In addition, expenditures for maintaining environmental quality are accounted as increases in national income and product, despite the fact that such outlays should be considered as a maintenance cost to society rather than social progress. 2. UNSO Programme of Environmental Accounting Given the diversity of existing approaches in this area, the United Nations Statistical Office, in collaboration with the United Nations Environment Programme (UNEP) and the World Bank proposes to develop concepts for integrated environmental and economic accounting which could be used as a basis for internationally comparable work in this field. The natural starting point for such a development is the System of National Accounts (SNA), which is currently being revised. In the ongoing revision process it has already been agreed, to include an extensive chapter on satellite accounts, which reflects the traditional approach to integrate 2 areas of special concern into the System of National Accounts. Nonetheless, the importance and the complexity of the environmental issue has led the experts to the conclusion that this topic needed further in-depth study which could be best dealt with in form of a separate Handbook to be issued along with the central framework of the SNA. 3. Objective and Contents of the Handbook The ultimate objective of the Handbook is to arrive at alternative definitions of environmentally adjusted indicators of capital, income and expenditure, value added and their respective components. These indicators are meant to be more appropriate tools for measuring economic performance and taking policy decisions concerning sustainable growth and development. The proposed integrated economic-environmental accounting framework is partly a modification and partly an extension of the System of National Accounts. In a first step, environmental activities and environmental products are being defined and hence separately identified in the accounts. Then the system is enlarged to include asset balances not only of produced assets, but also of environmental assets, for which the Handbook is to elaborate an appropriate classification. The inclusion of environmental assets is necessary to describe the costs of depleting natural resources and of degrading the environment through economic activities. Information on depletion of natural resources and degradation by pollutants and waste residuals are typically available in physical terms only. Consequently, the Handbook will comprise proposals for valuation of physical indicators, necessary to include environmen- tal cost adjustments in the accounting system. It should be pointed out, however, that complete balance sheets will only be established for the natural environment as far as it has become part of the economic activities (e.g. timber tracks, fish of fish ponds, water of water reservoirs). 3 4. Country studies In order to gain experience concerning the implementation of the proposed integrated accounting system, one pilot project is presently being carried out in collaboration with the Mexican Statistical Office. For this purpose the general framework has been adapted to the specific situation of the country. The experiences so far have shown, that one of the greatest problems is the large diversity of the available environment statistics, which are compiled by a variety of public as well as private institutions for very different purposes. A further country project will be carried out early next year in Papua New Guinea. The results of these and possibly further country studies, will form an important part of the Handbook. 5. Work accomplished and future timetable The United Nations Statistical Office has hired Mr. Carsten Stahmer from the Statistical Office of the Federal Republic of Germany to prepare a first draft of the Handbook. He presented an intermediate report in January 1990 and a draft of Chapter I in May 1990. Further chapters have been prepared and were discussed extensively with Messrs. Peter Bartelmus and Jan van Tongeren of the United Nations Statistical Office. The entire draft is due to be presented by the end of October 1990, so that it can be submitted for discussion to the SNA expert group meeting, scheduled for the first week of December. A revised version of the draft will be discussed by the forthcoming Special Conference of the Interna- tional Association for Research in Income and Wealth (IARIW) on environmental accounting (Baden, May 27-29 1991). The draft Handbook will be widely circulated for comments and contributions, prior to its publication in the Handbook Series of the SNA. UNITED NATIONS STATISTICAL OFFICE BRIEF ON THE HANDBOOK ON ENVIRONMENTAL ACCOUNTING 1. Background Calls for environmentally sound and sustainable growth and development reflect a general agreement on the need to integrate environmental objectives into socio-economic planning and policies. National accounts have provided the most widely used indicators for the assessment of economic performance and trends of economic growth. Two major drawbacks of national accounting have raised doubts, however, about the usefulness of national accounts data for the measurement of long-term sustainable economic growth and socio- economic development. These drawbacks are the neglect of (a) new scarcities of natural resources which threaten the sustained productivity of the economy and (b) the degradation of environmental quality from pollution and consequential effects on human health and welfare. In addition, expenditures for maintaining environmental quality are accounted as increases in national income and product, despite the fact that such outlays should be considered as a maintenance cost to society rather than social progress. 2. UNSO Programme of Environmental Accounting Given the diversity of existing approaches in this area, the United Nations Statistical Office, in collaboration with the United Nations Environment Programme (UNEP) and the World Bank proposes to develop concepts for integrated environmental and economic accounting which could be used as a basis for internationally comparable work in this field. The natural starting point for such a development is the System of National Accounts (SNA), which is currently being revised. In the ongoing revision process it has already been agreed, to include an extensive chapter on satellite accounts, which reflects the traditional approach to integrate 2 areas of special concern into the System of National Accounts. Nonetheless, the importance and the complexity of the environmental issue has led the experts to the conclusion that this topic needed further in-depth study which could be best dealt with in form of a separate Handbook to be issued along with the central framework of the SNA. 3. Objective and Contents of the Handbook The ultimate objective of the Handbook is to arrive at alternative definitions of environmentally adjusted indicators of capital, income and expenditure, value added and their respective components. These indicators are meant to be more appropriate tools for measuring economic performance and taking policy decisions concerning sustainable growth and development. The proposed integrated economic-environmental accounting framework is partly a modification and partly an extension of the System of National Accounts. In a first step, environmental activities and environmental products are being defined and hence separately identified in the accounts. Then the system is enlarged to include asset balances not only of produced assets, but also of environmental assets, for which the Handbook is to elaborate an appropriate classification. The inclusion of environmental assets is necessary to describe the costs of depleting natural resources and of degrading the environment through economic activities. Information on depletion of natural resources and degradation by pollutants and waste residuals are typically available in physical terms only. Consequently, the Handbook will comprise proposals for valuation of physical indicators, necessary to include environmen- tal cost adjustments in the accounting system. It should be pointed out, however, that complete balance sheets will only be established for the natural environment as far as it has become part of the economic activities (e.g. timber tracks, fish of fish ponds, water of water reservoirs). 3 4. Country studies In order to gain experience concerning the implementation of the proposed integrated accounting system, one pilot project is presently being carried out in collaboration with the Mexican Statistical Office. For this purpose the general framework has been adapted to the specific situation of the country. The experiences so far have shown, that one of the greatest problems is the large diversity of the available environment statistics, which are compiled by a variety of public as well as private institutions for very different purposes. A further country project will be carried out early next year in Papua New Guinea. The results of these and possibly further country studies, will form an important part of the Handbook. 5. Work accomplished and future timetable The United Nations Statistical Office has hired Mr. Carsten Stahmer from the Statistical Office of the Federal Republic of Germany to prepare a first draft of the Handbook. He presented an intermediate report in January 1990 and a draft of Chapter I in May 1990. Further chapters have been prepared and were discussed extensively with Messrs. Peter Bartelmus and Jan van Tongeren of the United Nations Statistical Office. The entire draft is due to be presented by the end of October 1990, so that it can be submitted for discussion to the SNA expert group meeting, scheduled for the first week of December. A revised version of the draft will be discussed by the forthcoming Special Conference of the Interna- tional Association for Research in Income and Wealth (IARIW) on environmental accounting (Baden, May 27-29 1991). The draft Handbook will be widely circulated for comments and contributions, prior to its publication in the Handbook Series of the SNA. ENVIRONMENTAL IMPACT ASSESSMENT ECON. VALUATION RESOUR. ENV.- GLOBAL OF ENV. IMPACTS MANMT. MACROEC. ENV.-EC. ENVIR. ACCT. COST- I SECTOR MACROECON. INT.ECON BENEFIT STUDIES STAB./STR. ADJ. TRADE ECONOMIC ANALYSIS DEBT TECHNICAL AND FINANCIAL ANALYSIS ENVIRONMENTAL IMPACT ASSESSMENT ECON. VALUATION RESOUR. ENV.- GLOBAL OF ENV. IMPACTS MANMT. MACROEC. ENV.-EC. ENVIR. ACCT. COST- SECTOR MAEROECON. INT.ECON BENEFIT STUDIES STAB,/STR. ADJ. TRADE ECONOMIC ANALYSIS DEBT TECHNICAL AND FINANCIAL ANALYSIS ENVIRONMENTAL IMPACT ASSESSMENT ECON. VALUATION RESOUR. ENV.- GLOBAL OF ENV. IMPACTS MANMT. MACROEC. ENV.-EC. ENVIR. ACCT. COST- SECTOR MACROECON. INT.ECON BENEFIT STUDIES STAB./STR. ADJ. TRADE ECONOMIC ANALYSIS DEBT TECHNICAL AND FINANCIAL ANALYSIS PHYSICAL/NATURAL STRUCTURAL - -OPERATIONAL RESOURCE GLOBAL GLOBAL TRANSNATIONAL TRANSNATIONAL AIR NATIONAL ECONOMY WATER SECTOR LAND NATURAL SUBSECTOR HABITATS PROJECT PHYSICAL/NATURAL STRUCTURAL - -OPERATIONAL RESOURCE GLOBAL GLOBAL TRANSNATIONAL TRANSNATIONAL AIR NATIONAL ECONOMY WATER SECTOR LAND NATURAL SUBSECTOR HABITATS PROJECT PHYSICAL/NATURAL STRUCTURAL - -OPERATIONAL RESOURCE GLOBAL GLOBAL TRANSNATIONAL TRANSNATIONAL AIR NATIONAL ECONOMY WATER SECTOR LAND NATURAL SUBSECTOR HABITATS PROJECT crtg 9-11 an 10-90 * Making Othis a Jt THE Econ. Comm. Institutive NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT Repetts - natril Income accrts al- - Jasust tounderstand eng. - alsoha done work on productionsh store Huderman - also cen my n/ rel. has Inti Streety of Everyical Enmics- Costa Kica. Kaster - natil Income accut Senators other Wirth 4 Hung - project 88 Junsthad Repette GNP is - artofact of Keynessar Emmire threader otherworth Keyne was concerned lay the Goal Depression - note - THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT Recorde mgml ta frinth smith, Mark } classicm Ecmonics human prestarls naki res $ reproduceble capital 3 elements -s This mar appropreate mail Hay. irom n a Jem. Consumpts Xwe don't do this don & tent noty resources Grparent as deplen of capitals. do other form 7, crp (no -- reflecty x:. one Revision NeeD timake Naty Resource are a form of CAPital (formating I'm " crimin) dgen =) & THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT Sme Eurpor conntices of LDC p are doing this me in ^ procention - conceptionly of emperially to to this! I our problems n/ productort Aneximes controls. alamed by. m folling perverted sense of protuctivedy = whether you have transfund inperts (EAM) in to intpicts of gate becomel. hut maybe shlld look econ value. @ lissening of leaser *lok@ Envel pegs. as IMPROVING PRODUCTIVITY Peter Bartlemus Newt desagaregate M II. ad has adjustment X Need on to or integorked single farticula ted also System. - what con/con't amerwad THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT yes there are the precides aspects of The enth" hut gud water, meverals, alu Real y quantifiable AlJ National Income Accents calculated by UN & then used by World Bankto decide whicher to give Cars. not here tager to free a S. (Hereath hhe to See) System of National Accents Carran workey of UN to corporpiate enviro. y ,`. Settin ap Satellite Accnts S.A. - conteney to Repetts - 11 V. defficult. goodelles (21993) in normal system - gareen grig 20 yrs. method of AL- doents thisentixely inadequate satellite adjustment: x, caleren adjustment Baskin V, much problem red THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT of whol "Sa" : means; no common defins etc. hopes Carron. - US will try you rensed inkl 8HL by 1995, SNA (we have not previously and inke methods). Daby avoid importereshmed by overcouring = pt. of accating = current measure of antil income Drem :- dual (oynees of Measure Repetto of welfare smthop different concepts Right! / mrybe mednurements tough! (arll speak to taken Seraty:] T968= last Dy SNA. Shlln it Anyaway from making estimates. 1 THE NTERPARLIAMENTARY CONFERENCE ON THE Mundsingly amerom - No GLOBAL ENVIRONMENT Sine afrecan construesdo art accur for depreciation even / na ofd. nate accept. V. Big stop to callede enute accint I useful interem SNA. Styp do move tord conventional Al - what's nature of the burden they M Sace - url in a pose into meanengfully Preskin apply - they hare the state just do Defferent thing alct. Barbana - whether can do enror accepty is U diff ? than A/- US can sehan eg, ets impring an other countries THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT shid methods. be as hre in using newer funds not there do help No CDC's Y world bank - mg 500, x look @3 chinkries UN dresnic have staff WRI can't do on air. sprotectivity measurements different flavor welfare 11 Perkein M system that acents for both AL from 7 hugs. next of will be to find Sucha unified system. implementation as a fromerrh way be had cashop Jex. Chesapake By ex. handigors - have come away from unifed to a more A1 - yeah - Hugaho absendaved their CO₂ goils, too. THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT Barrelmens - - Sabillite Acents. detailed K. discusser of the system will he tuber leyend 1991 hut definited by June 1992 Bragel anference Repetto- - thinkster framerotch reps. alot I program 415 to muplyment writg the SNA von well advened best bok but feely is regres - processor SNA but think cld have gone much further us the the Parkend Viederman Peskin /Daly writing of the K med $ to a care study & continue to build infradructure Az Psofetto - any chen of ain much old Cost over a decide to smit implementay This (ex. 10comners 4r). B - 2 Wald Bank Shidees - 40-50K per county for pelol studies THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT A/- w/thout order of may oldn it rago fund this kind ?? (w/helgof USAID) r yes 1 butdon's want to do all world Bankwork 1 wants fillm up Commenication M this A/- LDC's are taken the Load here mundainghe we - complax problem a/ econ = conserv. growth. earors accepty per. 77 whether SNA shld be revised but how fast envil arpact i WB Jurgects. +MICRO level but MACRO and also cirpor pent AC wants better up on exactlyton THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT micro works (project lypugect and) WB will publich a july student physical indicators J enoth. Chron US effects -wrky - of ON- commentry an Handbrok make accents aware 2 this, intereduce - Jolicy purpose Man. runsed SNA by 1993 - - Commerce - couple of you ago had a you (bend by Jan Peokin) 2) hur Hern cut M15t Benga hudget THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT nm giarry of again budget is a/cn Connerce Committee. ! * AL was to the in fo. R. Jan Reoken nm@ ( Bo (Q. CBC long mothy ??), A1 - what are hardest Cats. to D? C- nate resources:= = uther we wer street; find valuabis. - Dointing impution of value to naxe Risources = work dounting Repetts yes for sine in for Here - ex tumber F waker have thansach values At- - Gut # pare V. distorbed? a - liarnesting cast, a Justlem. { but have MKF Rts. THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT Resken - - problem also Commune reserved but Q lt. of biokeversity hard to is walunts It. - have needs spatted me hobitat worth? Costanga also dont understand yes what there Junes to value parents in there adia I are doing - hard all vital fractions they A( - down any. it like are that "moderably, will he ta by to evaluate provices) in valued that way and accepts that 9ml theog chagbe can And Ming etc) are Not 50 sead) (whing for a a THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT Costanga - Atd net approach V. lyd. need to start 3 from insurant july Nalue us precured Value J enol - not by the purchaser. Bob pichaels - EPA pocasey in The lcm. rolush of enoth (remea ingent - Dept of Arken/ no are down warre sundi accinly worky of Besken on Cherapake propert Conventions are contining yes Values @ the margin hut insures Consumer softles CPA any unfordal techs. to try toamers value to Consumer ] THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT perl for enrire empacts Jr fed propert * are step ** shle do in gerl for econ policy + ex every tax bill stild have one A/- - what of in hrop Jork @ Serves of concepts in claracal gommer cardend of as can Students approach - thodetol concepts classic ulen link or realogical promatent concepts ex Rojetton Ideas re: in ix b depresention Veonanie C consumption (Peskin) d capital formations l swings a Consumer Soveregaty here & Now is sovereign In as say Conserver 'n mulplace THE NTERPARLIAMENTARY CONFERENCE ON THE GLOBAL ENVIRONMENT Repetto e consumpts In Consumer use veloculog are ad range from x mins velocity J perfection /transformation avelocity of physical transformation P Resepreal 2 durability > Daly of infrastructive 7 D'Neill 4 income (& producto). it allocation to Pactors of - Thomas Juster artich 1970 Perkins (econ performance) not Country all from of health that make a difference , calleded nc suggesty! measure its deteriorah sgrowh. Ease Study of Comerion as a notion who doesn 2 Gove an idea of wes depreciate Miggert rother look @ UK diflerrof - oil reserves had party prig now s clear + provide for forkun Incorporating Environmental Criteria into National Income Accounts and Other Economic Measures List of Participants Senator Al Gore Senator Jeff Bingaman Congresswoman Olympia J. Snowe Mr. Stephen Viederman, Jessie Smith Noyes Foundation Mr. Conn Nugent, Nathan Cummings Foundation Dr. Robert Repetto, World Resources Institute Dr. Herman E. Daly, The World Bank Dr. Mohan Munasinghe, The World Bank Dr. Salah El Serafy, The World Bank Dr. Robert Costanza, University of Maryland J. Exologinal Euxames. Dr. Henry Peskin, consulting economist TOE PA & World Bank Dr. Carol Carson, Department of Commerce Barraur of Erm and Dr. Richard Greg Michaels, U.S. EPA - Economism Policy office. Dr. Bill O'Neil, U.S. EPA Ms. Barbara Bramble, National Wildlife Federation - Photo Dearh Policy Dr. Peter Bartelmus, U.N. Statistical Office Staff of the Joint Economic Committee, U.S. Congress ##### from Peter Bartelmus Table 2: Framework for Integrated Environmental and Economic Accounting (consolldated) Strotica / Office Tangible assets (Table 1.3) produced non-produced natural except natural assets natural (biota) Opening stocks 991.3 83.1 1744.4 + (plus) Domestic Final Consumption Capital accumulation Rest of the Total production world (industries) Use/Value Added house- govern- produced assets non- exports/ (Table 2.2) holds ment produced imports natural except natural assets natural (biota) Use of goods and services 591.9 224.0 175.0 42.5 68.0 1.4 7.3 73.7 thereof env. protection services (36.2) (22.4) (8.8) (5.0) Gross Domestic Product (GDP) 293.4 Consumption of fixed capital 26.3 -23.0 -3.3 Net domestic product (NDP) 267.1 Use of natural assets (environmental costs) -1.6 59.8 17.1 -5.0 5.1 -0.9 -73.0 -4.7 thereof: depletion (17.5) (0.7) (-0.9) (-17.3) degradation (-1.6) (42.3) (16.4) (-5.0) (5.1) (-55.7) (-4.7) Environmental adjustment of final demand (environmental costs) 22.2 -17.1 -5.1 Environmentally adjusted net Domestic Product (EDP) 185.1 + (plus) Supply (Table 2.1) Goods and services 591.9 517.4 74.5 Imports of residuals -1.6 -1.6 + (plus) Revaluation and adjustment to market valuation 138.1 13.5 464.0 Other volume changes (marked valuation) -25.3 22.8 = (equal) Closing stocks 1149.1 93.8 2165.5