Is there a model that incorporates utility outside of “people are willing to pay for it”?

I can't remember her name but there was an economist who IIRC was Australian and made a critique of classical Keynesian economics based on an accounting model that you need a debit column to be able to balance out loss of raw materials, environmental degradation etc.

For example if an oil tanker sinks you should be able to calculate the loss of value the environmental damage represents as well as the additional value that replacing that ship represents.

Can't remember much beyond that though.