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News articles on natural capital
Mongabay.com news articles on natural capital in blog format. Updated regularly.
(04/29/2013) The environment is a public good. We all share and depend on clean water, a stable atmosphere, and abundant biodiversity for survival, not to mention health and societal well-being. But under our current global economy, industries can often destroy and pollute the environment—degrading public health and communities—without paying adequate compensation to the public good. Economists call this process "externalizing costs," i.e. the cost of environmental degradation in many cases is borne by society, instead of the companies that cause it. A new report from TEEB (The Economics of Ecosystems and Biodiversity), conducted by Trucost, highlights the scale of the problem: unpriced natural capital (i.e. that which is not taken into account by the global market) was worth $7.3 trillion in 2009, equal to 13 percent of that year's global economic output.
How to see the forest for the trees: new textbook helps to craft a global understanding of forest economics for all stakeholders
(11/13/2012) Environmental economics is similar to other expanding fields, it turns out. For example, Tauhid Zaman, assistant professor of operations management at the MIT Sloan School of Business, lamented that network analytics far too often focuses on the purely theoretical, and quipped that his colleagues "want to date a model more than they want to model data." William F. Hyde might argue that the same could be said for environmental economists.
Ten African nations pledge to transform their economies to take nature into account
(06/11/2012) Last month ten African nations, led by Botswana, pledged to incorporate "natural capital" into their economies. Natural capital, which seeks to measure the economic worth of the services provided by ecosystems and biodiversity—for example pollination, clean water, and carbon—is a nascent, but growing, method to curtail environmental damage and ensure more sustainable development. Dubbed the Gaborone Declaration, the pledge was signed by Botswana, Liberia, Namibia, Mozambique, Rwanda, Gabon, Ghana, Kenya, South Africa, and Tanzania following a two day summit.