The Biden administration announced an initiative Thursday to track the “economic role and value” of nature in the U.S., claiming that current economic indicators do not accurately track the impact of the “natural world” on the U.S. economy.
The “National Strategy to Develop Statistics for Environmental-Economic Decisions” was announced as a joint initiative between the White House Office of Science and Technology Policy, the Office of Management and Budget and the U.S. Department of Commerce (DOC), and represented the work of “27 Federal departments, agencies and offices” to “account for natural assets.” The initiative notes that the Gross Domestic Product (GDP) — a measure of the overall economic output of the U.S. — and other economic statistics were developed when “nature’s ability to provide seemed limitless,” and that an accurate accounting of natural resources is necessary. (RELATED: US Shale Boss Says Industry’s Golden Age Is ‘Over’)
Continued Article: ‘Natural Capital’: Biden Admin Announces 15-Year Green Economics Plan | The Daily Caller
