Natural capital
Published: July 31, 2008, 2:34 pm
Updated: July 31, 2008, 2:34 pm
This article has been reviewed by the following Topic Editor:
Cutler J. ClevelandNatural capital is the extension of the economic notion of capital (manufactured means of production) to environmental goods and services. A functional definition of capital in general is: "a stock that yields a flow of valuable goods or services into the future". Natural capital is thus the stock of natural ecosystems that yields a flow of valuable ecosystem goods or services into the future. For example, a stock of trees or fish provides a flow of new trees or fish, a flow which can be sustainable indefinetely. Natural capital may also provide services like recycling wastes or water catchment and erosion control. Since the flow of services from ecosystems requires that they function as whole systems, the structure and diversity of the system are important components of natural capital.
Further Reading
- Costanza, Robert et. al. 15 May 1997. "The Value of the World’s Ecosystem Services and Natural Capital." Nature 387: 253-259.
- Costanza, R., Daly, H.E. (1992) Natural capital and sustainable development. Conservation Biology 6, 37-46.
- Daily, Gretchen C., ed. 1997. Nature’s Services. Island Press: Washington, D.C.
Are you absolutely sure you want to delete this article? This process cannot be undone and is permanent.
Yes, Delete This Article
Are you absolutely sure you want to remove this article? This process cannot be undone and is permanent.
Yes, Remove This Article
Citation
Robert Costanza (Lead Author);Cutler J. Cleveland (Topic Editor) "Natural capital". In: Encyclopedia of Earth. Eds. Cutler J. Cleveland (Washington, D.C.: Environmental Information Coalition, National Council for Science and the Environment). [First published in the Encyclopedia of Earth July 31, 2008; Last revised Date July 31, 2008; Retrieved May 22, 2013 <http://www.eoearth.org/article/Natural_capital>
The Author
International Advisory Board
The Encyclopedia of Earth Dr. Robert Costanza is the Gund Professor of Ecological Economics and Director of the Gund Institute for Ecological Economics at the University of Vermont. Costanza is co-founder and former-president of the International Society for Ecological Economics, and was the founding editor of the society’s journal, Ecological Economics. He is past President of the International Society for Ecosystem Health.Dr. Costanza’s awards include being n ... (Full Bio)
Natural capital is the extension of the economic notion of capital (manufactured means of production) to environmental goods and services. A functional definition of capital in general is: "a stock that yields a flow of valuable goods or services into the future". Natural capital is thus the stock of natural ecosystems that yields a flow of valuable ecosystem goods or services into the future. For example, a stock of trees or fish provides a flow of new trees or fish, a flow which can be sustainable indefinetely. Natural capital may also provide services like recycling wastes or water catchment and erosion control. Since the flow of services from ecosystems requires that they function as whole systems, the structure and diversity of the system are important components of natural capital.
Further Reading
- Costanza, Robert et. al. 15 May 1997. "The Value of the World’s Ecosystem Services and Natural Capital." Nature 387: 253-259.
- Costanza, R., Daly, H.E. (1992) Natural capital and sustainable development. Conservation Biology 6, 37-46.
- Daily, Gretchen C., ed. 1997. Nature’s Services. Island Press: Washington, D.C.
Are you absolutely sure you want to delete this article? This process cannot be undone and is permanent.
Yes, Delete This Article
Are you absolutely sure you want to remove this article? This process cannot be undone and is permanent.
Yes, Remove This Article
Site Options
0 Comments
Add Comment