Is putting a price on nature the key to creating a greener economy?

CSU's The Audit

Can you put a price on nature? Or maybe the better question is, should you put a price on nature?

It may sound like a bizarre concept, but it’s one that renowned environmental economist Ed Barbier says could be key to saving the planet.

Barbier is a University Distinguished Professor in the Department of Economics at Colorado State University, as well as a Senior Scholar in the School of Global Environmental Sustainability. His main expertise is natural resource and development economics and the interface between economics and ecology. He’s also the author of several books, including “Economics for a Fragile Planet: Rethinking Markets, Institutions and Governance,” which offers a blueprint for a greener and more inclusive economy.

In that book, Barbier writes that managing an increasingly delicate ecosystem requires us to rethink the “underpricing” of nature, and to decouple wealth creation from environmental degradation through business, policy and financial actions aimed at better stewardship.

Barbier recently spoke with CSU's The Audit about what a green economy looks like and how he believes we can get there.