Purpose – The aim of this paper is to demonstrate that the application of standard environmental accounting practices for estimating long‐term discount rates is likely to lead to the rejection of biodiversity‐sensitive projects that are in the greater societal good....

We ask whether the US government should replace its current discounting practices with a declining discount rate schedule, as the United Kingdom and France have done, or continue to discount the future at a constant exponential rate. We present the theoretical basis for a declining discount rate...

Purpose – The aim of this paper is to demonstrate that the application of standard environmental accounting practices for estimating long-term discount rates is likely to lead to the rejection of biodiversity-sensitive projects that are in the greater societal good. Design/methodology/approach...