The question whether accountants “can save the planet” as the subtitle of the new book by Jane Gleeson-White (“Six Capitals. The revolution capitalism has to have — or can accountants save the planet?”) suggests, points to the core of the recent discussion on natural capital vs. commodification of nature. It will sure provoke even greater discussions. And of course, biodiversity offsets are somewhere in between this whole discussion. As Willow Aliento puts it in his very readable book review:
Some of the mechanisms for mitigating corporate impact are also called into questions, such as biodiversity offsetting. This, Gleeson-White argues, appears to be a licence to trash one place on the basis you’ll do something in another, an approach that fails to recognise the place-based nature of habitats and socially important places.
But, despite this line of argumentation that seems to counter the concept of biodiversity offsets in general, the books gives voice to different viewpoints:
One of the joys of the book is the wide-ranging research and interviews Gleeson-White has undertaken. There are some fabulous dinner table debate starters from people like George Monbiot, Bob Massie, banker Pavan Sukhdev and even Keynes himself, and enough interesting leads towards further reading, groups worth engaging with and people worth listening to keep anyone interested in the business of sustainability feeling hopeful.
General information on the book
The book is out since November, find some general information following and the official book description below.
Title: SIX CAPITALS : THE REVOLUTION CAPITALISM HAS TO HAVE OR CAN ACCOUNTANTS SAVE THE PLANET
Author: GLEESON-WHITE JANE
Format: HARD COVER
Publisher: Allen & Unwin
This is the story of a 21st century revolution being led by the most unlikely of rebels: accountants.
It is only the second revolution in accounting since double-entry bookkeeping emerged in medieval Italy — and it is of seismic proportions, driven by the 2008 financial crash and the environmental crisis. The changes it will wreak are profound and far-reaching. They will transform not only the way the world does business but alter the very nature of corporate capitalism.
The accounts of nations and corporations are vital to the 21st century global economy. They translate value into the language of modern times — numbers and money — in the shape of GDP and profit figures. They rule the world. But increasingly the world is coming to realise that the seemingly endless growth that capital offers us is in fact limited by the earth’s resources and comes at a huge price to the planet and our own wellbeing. It simply cannot be sustained.
This revolution demands that we start accounting for nature and society. It urges us to rethink our idea of capital, insisting that the familiar categories of industrial and financial capital bequeathed by the mercantile and industrial ages be broadened to include four new categories of wealth: intellectual, human, social and natural. Incorporating them into our financial statements and GDP figures could be the only way to address the many crises we face today.
Just two years ago this revolution seemed idealistic and unlikely. Today it is unfolding at speed. 2012 was the sea-change year, in which two key initiatives took root: an international movement to transform corporate accounting, and the rise of natural capital accounting for nations and the global economy. Six Capitals tells the story of their rise to prominence, which signals a new age in capitalism, and evaluates their promise — and their threat.
The revolution is here. But will we embrace its potential or deny its urgency? Can accountants save the planet — or will we destroy it for future generations?