8.2 Flashcards
Resources
The Earth contains many resources that support its natural systems: the core and crust of the planet, the biosphere (the living part) containing forests, grassland, deserts, etc. These resources are extensively used by humans to provide food, water, shelter and life- support systems. In fact, a resource is only a resource when it becomes useful to us humans.
Why is the concept of natural capital dynamic?
The value of a resource should be seen as dynamic, with the possibility that its status may change over time. As humans advance culturally and technologically, and our resource base changes, the
the importance of a resource may be transformed. Resources become more valuable as new technologies need them. This value is influenced by cultural, social, economic, environmental, technological and political factors. Examples include cork, uranium and lithium.
The value that we give to these resources can be aesthetic, cultural, economic, environmental, ethical or social.
What is Natural Capital?
Natural Capital is basically a way of describing the resources our nation has, which can produce a natural income of goods and services if managed sustainably.
For example natural capital, such as a forest, can provide a sustainable natural income of goods such as wood and paper and services such as recreation and aesthetics.
They are natural resources that have value to us as goods (tangible products): forests, fertile soil, fisheries, fossil fuels, mineral deposits, ground water
Natural capital provides Natural Income
What is Natural Income?
Natural income is the annual yield of goods and services. Goods are the products that we can take from natural capital (wood, food, medicine, paper). Services include aesthetics (visual pleasure), recreation, oxygen production (service provided by a forest), soil stability etc. It is the amount that we can extract each year. If we take more than this yield we are taking beyond the natural income. Natural income is sustainable by definition.
What is renewable natural capital?
Renewable can be generated and replaced as fast as it is being used. It includes living species and ecosystems that use solar energy and photosynthesis. It also includes non-living items, such as groundwater and the ozone layer.
Renewable capital can be utilized sustainably or unsustainably. If renewable capital is used beyond its natural income this use becomes unsustainable.
What is non-renewable capital?
Non-renewable natural capital are resources that exist in finite amounts on Earth and will eventually run out as they cannot be replaced (or they can only be replaced over geological timescales). It includes minerals, soil, water in aquifers and fossil fuels.
Non-renewable natural capital is either irreplaceable or can only be replaced over geological timescales; for example, fossil fuels, soil and minerals. It ‘s finite.
