President Joe Biden calls climate change “the existential crisis of our time” and has taken steps to curb it that match those words. They include returning the U.S. to the Paris Agreement; creating a new climate Cabinet position; introducing a plan to slash fossil fuel subsidies; and announcing ambitious goals to cut U.S. greenhouse gas emissions.
But climate change is not the only global environmental threat that demands attention. Scientists widely agree that loss of wildlife and the natural environment is an equally urgent crisis. Some argue that biodiversity loss threatens to become Earth’s sixth mass extinction. But unlike efforts to fight climate change – which center on clear, measurable goals to reduce greenhouse gas emissions – there is no globally accepted metric for saving biodiversity.
As an expert on budgeting and public finance, I know that governments and private businesses alike pay much more attention to resources when they have a well-defined price tag....
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