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LEASING THE ENVIRONMENT
Author(s) -
Quirke Brendan Joseph
Publication year - 1996
Publication title -
sustainable development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.115
H-Index - 64
eISSN - 1099-1719
pISSN - 0968-0802
DOI - 10.1002/(sici)1099-1719(199608)4:2<98::aid-sd43>3.0.co;2-r
Subject(s) - lease , accounts payable , natural capital , business , payment , work (physics) , sustainability , capital (architecture) , finance , actuarial science , engineering , mechanical engineering , history , ecology , archaeology , ecosystem , ecosystem services , biology
The idea of an environmental lease is examined. It is acknowledged that the recognition of environmental concerns by the accounting profession is still very much in its infancy, but a mechanism is proposed that helps to address some of these concerns. Various components of such a lease are considered, such as an element for the depletion of natural capital, an insurance premium payable to future generations and a return for the use of natural capital. The method of collecting lease payments and the role of government in this process is also examined. Leasing aims to help achieve the goal of inter‐generational equity which is fundamental to the whole concept of sustainability. It is concluded that leasing appears to offer a way forward, but much work still needs to be done.