‘Environmental accounting’ could revolutionise nature conservation, but Australia has squandered its potential
- Written by Peter Burnett, Honorary Associate Professor, ANU College of Law, Australian National University

Let’s say a new irrigation scheme is proposed and all the land it’ll take up needs to be cleared — trees felled, soil upturned, and habitats destroyed. Water will also have to be allocated. Would the economic gain of the scheme outweigh the damage to the environment?
This is the kind of question so-called “land...