Jennifer Westacott:
“Price, cost and value. So the first thing that I think, if we want to do this sort of thing in Australia, what we need to do is to stop seeing economic growth and environmental health as in competition with one another. The second thing, as part of that, is that we do need to recognise that the environment does have economic value. But we don’t have good tools for this. We know how to measure the cost of environmental failure more than the value of environmental health. That means we know the value of something too late. But we don’t have some good tools here so I absolutely agree with Peter about a national set of environmental accounts. But we also need better ways of measuring value and how we actually measure long term value versus short term value.”