Green Accounting
Forests apparently have zero economic value in federal government accounting!
The Ottawa Airport Authority, suffering from severely reduced income as a result of COVID, sees only the immediate potential of a bit of rent from leasing a piece of the forest to Otto's going directly to their bottom line. A solution to their problem from the accountant's perspective. They have no way within their standard accounting systems of considering the economic value of the forest in their thinking, decision making. The only decision they can rationally make is to lease to Otto's.
And, because the forest doesn't figure in their accounting, the community has to rely on emotional rather than rational arguments. There is no loss on their books if the airport authority allow the project. There is only a gain! Wow! Something is wrong with the measurement system here.
I'm not an accountant or an economist, but what have I got wrong here? Am I missing something? Is there a better system out there? It would sure be easier to argue the case if forests were worth something!
Just thinkin'... Any accountants or economists out there?
/egs
2021-07-02
