Natural Capital

Restoring Nature’s Capital: An Action Agenda to Sustain Ecosystem Services (2007), by Irwin and Ranganatham, contends that governance — who makes decisions, how they are made, and with what information — is at the heart of sustaining healthy ecosystems.

UK Parlimentary Office of Science and Technology POSTnote (2007) outlines what ecosystem services are, and how provisions for maintaining them in the UK could be incorporated into policy frameworks.

Growth and Sustainability: Integrating Ecosystem Services into Economics (2006), by Hindmarch, Harris and Morris, argues that a paradigm shift in valuation would push development from an exploitative to an adaptive mode, thus making it inherently sustainable.

A Matter of Opinion: How Ecological and Neoclassical Environmental Economists Think about Sustainability and Economics (2006), by Illge and Schwarze, provides an interesting analyses to determine the real differences between the research of neoclassical environmental economists and ecological economists.

Conceiving the Science, Business and Practice of Restoring Natural Capital (2006), by Aronson et al, a symposium which brought together a group of some 40 restoration ecologists and practitioners as well as ecological economists from around the world (Australasia, Europe, Africa, and North America) for a symposium from October 30 through November 2, 2005 at the Missouri Botanical Garden (MOBOT) in St Louis, Missouri.

Motivations for the Restoration of Ecosystems (2006), Clewell and Aronson, argues that the three main rationales include the technocratic or institutional behavior of governments or other large organizations, the idealistic (personal or cultural) that strives to reconnect with nature, and the pragmatic that seeks to recover lost ecosystem services and biodiversity.

Unite to Save Earth’s Natural Capital (2005), by Milton et al, argues that ecologists and economists have got together to consider how best to look after what nature provides and at the same time make sure that there are enough goods and services to meet the needs of all the world’s people, poor and rich, now and for the future.

Strategies for Restoring Natural Capital (2005), a symposium aimed to bring about more cross-fertilization between the fields of economics and ecological restoration in order to develop a clear rationale on the conceptual basis of natural capital.

Experimental Evidence on Alternative Environmental Valuation Methods (2005), by Harrison, argues that experimental methods are central to assessments of environmental valuation approaches that are operationally meaningful.

Depend on Nature: Ecosystem Services supporting Human Livelihoods (2005), by the IUCN, outlines the impacts of ecosystem services losses on human well-being, health and food security.

Natural Capital and Ecological Restoration (2004), an Occasional Paper of the SER Science and Policy Working Group, is a good introduction to the idea of natural capital and how its differs from neoclassical economic theory.

Why Ecosystem Services Matter (2004), by Bohensky, outlines the array of benefits provided by nature which are the lifeblood of human societies, economies and identities around the world. For many rural populations, ecosystem services form an essential part of daily activities and longstanding traditions.

Economic Valuation of Ecosystem Services (2003), by Hawkins, aims to summarize the current knowledge about ecosystem services and their valuation. It will attempt to find a definition for ecosystem services and discuss the valuation of ecosystem services, starting off by describing the different values economists apply to ecosystems.

Valuation of Nature in Conservation and Restoration (2001), by Swart et al, discuss different perspectives, and accordingly, sketch three main types of these valuation approaches. Political and policy issues with respect to nature conservation and restoration are considered in terms of this model.

Can Environmental Valuation Techniques Aid Ecological Economics and Wildlife Conservation? (2000), by Loomis, evaluates the potential usefulness of nonmarket valuation concepts and techniques from environmental economics for improving wildlife conservation.

The Value of the World’s Ecosystem Services and Natural Capital (1998), by Costanza et al, estimated the current economic value of 17 ecosystem services for 16 biomes, based on published studies and a few original calculations. Interview with Bob Costanza.

The Economics of Ecological Restoration (1993), by the Environmental Response/Fourth World Project, published a preliminary report which highlights the need for a more enlightened valuation of ecosystem functions and a thoughtful economic rationale.

Valuation of Environmental Goods and Services: An Institutional Assessment (?), by S.K. Mishra, examines methods to find a pecuniary measure of the worth of environmental goods and services and evaluate them from the viewpoint of institutionalism.

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