Scotland will become the first state in the world to put a price on the value of its natural environment and the benefits it provides, in a pioneering project which could transform the way it makes decisions on planning.
Academics have estimated that nature is worth between £21.5bn and £23bn a year to Scotland’s economy, but Scotland’s First Minister Alex Salmond wants a far more in-depth study. Supporters of the scheme argue that because most development decisions are based on narrow economic considerations, in terms of the direct costs and benefits, natural resources such as peat should be valued in the same way to ensure their importance is not overlooked.
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