Humans are inescapably dependent upon geological processes and structures. Many of these interactions are direct, such as when we cultivate the soil or mine the earth. However, the terms of our interaction with geology are usually invisible and unacknowledged. Although the relationships are complex, a firm understanding of the environment and our dependence on it cannot ignore the interconnections between earth’s systems, including subsurface geology, vegetation, oceans, and atmosphere. This Article suggests serious consideration of geosystem services, an effort to identify the value to humans of processes occurring throughout the geosystem for the services—not just the goods—that they provide. It proposes a legal regime of geosystem services, and illustrates the immense value of geosystem benefits that are at risk when they are not expressly included in decisionmaking processes.

What impact does inflation have on environmental sectors? Economists have recently raised concerns about “greenflation,” a term coined to describe rising commodity prices associated with going green, due to a higher demand for sustainable materials. The implementation of more carbon-neutral regulation and increasing environmental, social, and governance (ESG) practices may contribute to these rising costs. On January 26, 2022, the Environmental Law Institute hosted leading experts for an in-depth economic discussion about greenflation, regulations, and ESG practices. Below we present a transcript of that discussion, which has been edited for style, clarity, and space considerations.