The Pentland Centre is holding a seminar on The World is Not Enough: Accounting for Environmental Externalities in the New Space Economy. In this seminar, Professor Sven Modell will discuss how to account for negative environmental externalities, which has a long pedigree in the social and environmental accounting (SEA) literature, to the New Space economy emerging as a result of the increasing commercialisation and privatisation of space-related activities.

In doing so, he pays particular attention to the questions of whether and how externalities affecting the outer space environment should be monetised and internalised in the corporations that inhabit this economy. Through a review of the governance regimes that are currently in place in the New Space economy, he finds that these regimes entail relatively limited monetisation and demands on corporations to internalise such externalities. This reinforces emerging concerns that private sector space corporations have weak incentives to mitigate externalities that are unique to this context. To address this problem, Sven puts forward proposals for a reformed governance regime and outlines a research agenda that might enhance our understanding of how environmental externalities can be managed in the New Space economy.

NB: The seminar runs from 11:00-12:00 in LUMS WP B007 and on Teams. Please note that this session will be recorded. 

Open to LU staff and students - registration required. 

Please register below - registrations close Sat 21 Feb 2026. Please contact pentlandcentre@lancaster.ac.uk for queries re booking after that date.

Photo at top of page by wowinside at Adobe Stock.

Sven Modell is Professor of Management Accounting at Alliance Manchester Business School, University of Manchester, Adjunct Professor (Professor II) at the Norwegian School of Economics and Visiting Professor at Turku School of Economics. His research interests pivot on the social, political and behavioural aspects of accounting and control. He has conducted empirical research with such a focus across a broad range of contexts. His current research projects include the development of accounting and governance practices in the New Space economy. He is also continuing to develop his long-standing interests in methodological and philosophical issues related to accounting research. He takes a particular interest in critical realism as a foundation for such work.

Health & Safety and access information:

• In order to safeguard everyone's health, if you test positive for Covid-19 before the event, or are feeling unwell in any way, please don't attend (and please let us know).
• The room is on the first floor, lift accessible, wheelchair accessible and has an induction loop. There is a wheelchair accessible toilet nearby.
• Accessible parking - there are 3 disabled parking bays at the top of Gillow Avenue (next to the West Pavilion).

Find out more about the Pentland Centre on our website