The natural capital framework for sustainably efficient and equitable decision making
Bateman, IJ; Mace, GM
Date: 8 July 2020
Journal
Nature Sustainability
Publisher
Nature Research
Publisher DOI
Abstract
The concept of ‘natural capital’ is gaining traction internationally as recognition grows of the
central role of the natural environment in sustaining economic and social wellbeing. It is therefore
encouraging to see the first signs of a ‘natural capital approach’ to decision making being
accepted within government policy processes ...
The concept of ‘natural capital’ is gaining traction internationally as recognition grows of the
central role of the natural environment in sustaining economic and social wellbeing. It is therefore
encouraging to see the first signs of a ‘natural capital approach’ to decision making being
accepted within government policy processes and the private sector. However, there are multiple
different understandings of this ‘approach’, many of which misuse or omit key features of its
foundations in natural science and economics. To address this, we present a framework for
natural capital analysis and decision making that links ecological and economic perspectives.
Economics
Faculty of Environment, Science and Economy
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