3.2.1-7 NATURAL CAPITAL
Ecologically minded economists describe resources as “natural capital”. If properly managed, renewable and replenishable resources are forms of wealth that can produce “natural income” indefinitely in the form of valuable goods and services.
This income may consist of marketable commodities such as timber and grain (goods) or may be in the form of ecological services such as the flood and erosion protection provided by forests (services). Similarly, non-renewable resources can be considered in parallel to those forms of economic capital that cannot generate wealth without liquidation of the estate.
This income may consist of marketable commodities such as timber and grain (goods) or may be in the form of ecological services such as the flood and erosion protection provided by forests (services). Similarly, non-renewable resources can be considered in parallel to those forms of economic capital that cannot generate wealth without liquidation of the estate.
So, what is the value of nature? Introductory videos
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Powerpoint on the topic
3.2.1-.7_natural_capital.key | |
File Size: | 2692 kb |
File Type: | key |
Required watch below
Video for students who are taking economics! A little trans-disciplinary learning!
natural_capital_worksheet.pdf | |
File Size: | 255 kb |
File Type: |
hk_parks_project.pdf | |
File Size: | 376 kb |
File Type: |
SUSTAINABILITY 3.2.5-7
Excerpt taken from Pearson's Text
The Earth Summit changed attitudes to sustainability on a global scale, and changed
the way in which people perceived economic growth (i.e. that sometimes this was at the
expense of the environment). It encouraged people to think of the indirect values of
ecosystems rather than just the purely economic ones.
Agenda 21 is a comprehensive plan of action to be taken globally, nationally and locally by
organizations of the UN, governments, and environmental groups in every area in which
humans impact on the environment. It was adopted by more than 178 governments at the
Rio Summit in June 1992.
Some national and state governments have legislated or advised that local authorities
take steps to implement Agenda 21. Known as ‘Local Agenda 21’ (LA21), these strategies
apply the philosophy of the Earth Summit at the local level. Each country is urged to
develop an LA21 policy, with the agenda set by the community itself rather than by
central or local government, as ownership of any initiatives by society at large is most
likely to be successful.
The effect of climate change, both in terms of sustainable development and its affect on
the planet in general, was discussed at a UN conference in Kyoto in 1997. Agreements
were made to reduce emissions of greenhouse gases, including reversing carbon dioxide
emissions, to their 1990 levels. The Kyoto Protocol stipulated that these targets should be
reached by the year 2012 .
The 1992 Earth Summit was followed up ten years later by the Johannesburg World
Summit on Sustainable Development (Figure 3.17). The Johannesburg meeting looked
mainly at social issues, and targets were set to reduce poverty and increase people’s access
to safe drinking water and sanitation (problems that cause death and disease in many
LEDCs).
The Earth Summit changed attitudes to sustainability on a global scale, and changed
the way in which people perceived economic growth (i.e. that sometimes this was at the
expense of the environment). It encouraged people to think of the indirect values of
ecosystems rather than just the purely economic ones.
Agenda 21 is a comprehensive plan of action to be taken globally, nationally and locally by
organizations of the UN, governments, and environmental groups in every area in which
humans impact on the environment. It was adopted by more than 178 governments at the
Rio Summit in June 1992.
Some national and state governments have legislated or advised that local authorities
take steps to implement Agenda 21. Known as ‘Local Agenda 21’ (LA21), these strategies
apply the philosophy of the Earth Summit at the local level. Each country is urged to
develop an LA21 policy, with the agenda set by the community itself rather than by
central or local government, as ownership of any initiatives by society at large is most
likely to be successful.
The effect of climate change, both in terms of sustainable development and its affect on
the planet in general, was discussed at a UN conference in Kyoto in 1997. Agreements
were made to reduce emissions of greenhouse gases, including reversing carbon dioxide
emissions, to their 1990 levels. The Kyoto Protocol stipulated that these targets should be
reached by the year 2012 .
The 1992 Earth Summit was followed up ten years later by the Johannesburg World
Summit on Sustainable Development (Figure 3.17). The Johannesburg meeting looked
mainly at social issues, and targets were set to reduce poverty and increase people’s access
to safe drinking water and sanitation (problems that cause death and disease in many
LEDCs).