Can a new way of accounting save our planet? | Richard Mattison | TEDxBathUniversity

Summary

In this engaging talk, the speaker emphasizes the urgent need for a new economic model that values nature alongside traditional financial metrics. Highlighting the rapid destruction of rainforests and the environmental costs of consumer products, the speaker advocates for recognizing ecosystem services and rethinking our consumption habits. By proposing simple changes in product usage and promoting sustainable practices, the talk illustrates how businesses can contribute to significant environmental benefits, ultimately valuing resources like water and forests before it's too late. This paradigm shift could lead to massive economic and ecological savings.

Takeaways

• 🌍 The current linear economy prioritizes profit over ecological sustainability, leading to environmental degradation.
• 🌱 Ecosystem services, such as clean air and water, are invaluable yet largely ignored in economic assessments.
• 🌳 Over half of the world's rainforests have been destroyed due to timber extraction, cattle ranching, palm oil, and soy production.
• 💧 Water pricing is paradoxical; scarcity often results in lower prices, leading to inefficient resource usage.
• 👖 Simple changes in product design, like reducing the washing frequency of jeans, can significantly lower water consumption.
• 🍔 Hamburger production contributes to environmental damage, with a dollar of harm for every three dollars earned.
• 💵 Implementing a new accounting model that values nature could yield substantial economic benefits and savings.
• 📈 The global middle class is expected to increase by three billion people, amplifying demand for resources and products.
• 🚮 The Pacific Ocean is now home to a massive floating mass of plastic, highlighting the crisis of waste management.
• 🔍 Recognizing and quantifying the value of nature is essential to ensure sustainable development and environmental protection.

Q & A

What is the main focus of the speaker's discussion?

The speaker emphasizes the need to rethink how we measure success, proposing a new model of accounting that values nature and its ecosystem services to help save the planet.

Why does the speaker mention the orangutan specifically?

The orangutan is highlighted as a symbol of the biodiversity loss due to rainforest destruction, with personal anecdotes illustrating the speaker's emotional connection to the species.

What are the primary reasons for rainforest destruction according to the speaker?

The four main reasons are timber demand, cattle ranching for meat production, palm oil plantations, and soy plantations used as animal feed.

How does the speaker critique the current linear economic model?

The speaker critiques it for being unsustainable, as it views resources as infinite, leading to environmental degradation and an inability to manage waste effectively.

What is the estimated value of nature's ecosystem services?

The estimated value of nature's ecosystem services is $125 trillion, which is higher than the global GDP of $72 trillion.

What example does the speaker provide to illustrate the environmental impact of jeans?

The speaker notes that producing a pair of jeans consumes 3,000 liters of water, highlighting the significant resource use associated with clothing.

What are two proposed interventions for reducing the environmental impact of jeans?

The two interventions are to wash jeans less frequently (every ten wears) and to offer a free repair service to extend their lifespan.

What does the speaker suggest is a perverse incentive regarding water pricing?

The speaker points out that water pricing does not correlate with scarcity; it is often cheaper where water is scarce and more expensive where it is abundant, leading to inefficient usage.

How does the environmental impact of hamburgers relate to rainforest destruction?

The speaker states that each hamburger contributes a dollar of environmental damage due to the deforestation required for cattle ranching, illustrating the hidden costs of meat production.

What is the overall message the speaker wants to convey?

The speaker urges a fundamental shift in how we value natural resources and suggests that by adopting a new model of business accounting, we can create significant economic benefits while protecting the environment.