Full Cost Accounting

Full cost accounting allows for the implementation of environmental, health, and social assets to be considered in the economic costs and benefits of decision making. It allows for complete end-to-end cost analysis of producing products or services. The goal is not necessarily to monetize their value, but rather to better understand their impact on an ecosystem and society, and potential ability to create value. Full cost accounting can help in sustainability by identifying areas where reducing environment impact could create value and confer monetary and non-monetary benefits that can be translated into economic terms. It allows for better management of the natural and social resources in our world today and a way to achieve more sustainable outcomes.

Center for Green Chemistry and Green Engineering at Yale

Visit us at https://greenchemistry.yale.edu/

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