Environmental and Economic Accounting for Industry

This is one of the first books to discuss environmental accounting in the Indian context. It provides a comprehensive account of theoretical and empirical literature on measuring environmental values and accounting for them in the estimation of environmentally corrected net national product for a country. The book presents detailed case studies of industries in India and abroad, applying standard methodology that has been refined by the authors. It (a) discusses theoretical models for measuring both producer values and household values of environmental resources and recent empirical applications of these in India and abroad, and (b) appraises methods of environmental and economic accounting through case studies. The authors demonstrate how the cost of environmentally sustainable industrial development could be accounted for in the estimation of environmentally corrected net national product with the help of a case study of industrial water pollution abatement in India. This book also discusses one of the important aspects of environmental regulation–the effects of environmental regulation on the productive efficiency of polluting firms–and provides evidence for win-win opportunities that the regulation provides for the water polluting firms in India. The volume explores methodological issues pertaining to shadow pricing, environmentally sustainable industrial development, valuing non-marketable benefits from environmental resources, accounting for industrial pollution in India, environmental regulation in water polluting industries, and studies the sugar industry in this context. The authors stress that environmental values are essential for designing economic instruments and environmental policy. The work is methodologically innovative and the theoretical expositions elegant. The volume will serve as an advance reader for students and researchers of environmental economics. Teachers, government departments, and international agencies dealing with environmental statistics will also find the book immensely useful.