The goal is to help guide Hawaii's environmental policy by accounting for the value of nature – work that will allow policymakers and the public to see the measurable effects of nature protection and climate change, according to Oleson. The economist hopes the approach could eventually provide a model for other states.
The U.S. federal government is taking its first-ever steps to formally incorporate the value of nature into policymaking, announcing a series of measures in recent months and at the ongoing UN COP15 nature summit in Montreal.
In 2012, thousands of homes in New York City were flooded by Hurricane Sandy. One of many neighborhoods affected by the storm was Howard Beach, in Queens, where the nearby Spring Creek Park and adjacent basins acted as a conduit for ocean waters, flooding residential streets and homes. In the storm’s aftermath, local officials pressed federal and state governments for a solution to prevent future flooding.