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8 Cards in this Set
- Front
- Back
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Natural capital
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Refers to natural resources that are managed to provide goods and services for societies.
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Natural income
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The portion of natural capital (resources) that is produced as 'interest', i.e. The sustainable income produced by natural capital.
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Renewable natural capital
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Such as living species and ecosystems, is self-producing and self-maintaining and uses solar energy and photosynthesis. This natural capital can yield marketable goods such as wood, but may also provide unaccounted essential services when left in place, for example, climate regulation.
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Replenishable natural capital
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Such as ground water and the ozone layer, is non-living but is also oftent dependent on the solar 'engine' for renewal.
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Non-renewable natural capital
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Such as fossil fuels and minerals, are analogous to inventories: any use implies partial depletion of the stock.
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Economic value
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Is determined by the market price of the goods and services a resource produces.
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Ecological value
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Have no formal market price: soil erosion control, nitrogen fixation and photosynthesis are all essential for human existence but have no direct monetary value, although some estimates have been made.
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Sustainability
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Is the use of global resources at a rate that allows natural regeneration and minimises damage to the envirornment.
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