Going Green Needs Carbon Accounting

11 November 2009

 The combined effects of financial crisis, climate change and energy concerns mean that we must overhaul our ideas on governance and harness public opinion, argues Jacqueline McGlade, executive director of the European Environment Agency

The global financial, energy and environmental crises all have their roots in decades of intense natural resources extraction along with poor governance. The result is that a massive but largely hidden ecological debt has steadily built up. It is a toxic debt that will be difficult to repay in the face of climate change and unsustainable growth and consumption patterns, and is also a debt not fully accounted for either in financial rescue packages or in plans for greening our brown economies.