Navigation Links
Natural resources worth more than US$40 trillion must be accounted for

Natural resources worth more than US$40 Trillion must be accounted for Governments and companies must do more to account for their impact and dependence on the natural environment - according to researchers at the University of East Anglia.

New research published today in the journal Nature Climate Change reveals that although some companies like Puma and Gucci are leading the way, more needs to be done to foster a sustainable green economy.

Researchers say that while the economic value of lost natural resources can be difficult to quantify, much more must be done to make sure that it is.

Lead author Matthew Agarwala from UEA's School of Environmental Sciences, said: "When we talk about 'natural capital', what we mean is the elements of nature that produce value to people such as ecosystems, plant and animal species, freshwater, land minerals, the air and oceans, as well as natural processes such as climate regulation.

"The value of this natural capital is largely excluded from both GDP and corporate accounting. It is assumed that these natural resources are 'free' but using them has an impact on the natural world and future living standards.

"This impact is too vast to be left off the balance sheets.

"The World Bank has estimated the value of natural capital to be at least US$40.2 trillion. That's around half of gross world product, 1.6 times the combined assets of the world's 10 biggest banks, and would have paid for the Apollo Space Programme more than 300 times.

"Companies and governments around the world need to account for their economic dependence and impact on the natural world to promote sustainability and combat climate change."

The report calls for public and private sectors to work together to develop Natural Capital Accounts (NCAs) - a metric to show vital information about economic dependence and impact on the natural world. These NCAs could then be integrated into national statistics such as Gross Domestic Product (GDP) accounts to provide early warning signs of emerging risks and vulnerabilities in the face of changing climate and land use.

"A good starting point would be to improve corporate carbon accounts and rapidly expand to include impacts on water and other elements of natural capital," said Agarwala.

The paper argues that focusing on carbon alone could lead to unintended consequences.

"Some private sector companies such as the Kering group, which includes Puma and Gucci, have started to publish environmental profit and loss accounts. This is a big step forward, and I hope that more firms will examine their natural capital impacts and dependencies throughout their supply chains.

"Natural capital is the foundation of all human wellbeing, yet its degradation is largely unreported and important public and private sector decisions are routinely made without regard for its value. Government and industry must join efforts to disclose both their own dependence on, and also their impact on natural capital."


Contact: Lisa Horton
University of East Anglia

Related biology news :

1. Proliferation cues natural killer cells for job change
2. Scientists discover a natural molecule to treat type 2 diabetes
3. Hijacking bacterias natural defences to trap and reveal pathogens
4. Stanford researchers rethink natural habitat for wildlife
5. Significant baseline levels of arsenic found in Ohio soils are due to natural processes
6. Problem wells source of greenhouse gas at unexpected stage of natural gas production
7. Academy of Natural Sciences receives major grant for program to protect drinking water
8. Natural history dying of neglect
9. Natural plant compounds may assist chemotherapy
10. Decline of natural history troubling for science, society
11. New database features 710,000 natural history records from Canadian Museum of Nature
Post Your Comments:
(Date:10/29/2015)... 29, 2015  Connected health pioneer, Joseph C. ... of technology-enabled health and wellness, and the business opportunities ... The Internet of Healthy Things . Long ... even existed, Dr. Kvedar, vice president, Connected Health, Partners ... delivery, moving care from the hospital or doctor,s office ...
(Date:10/29/2015)... NEW YORK , Oct. 29, 2015 /PRNewswire/ ... wearable technology, announced a partnership with 2XU, a ... accessories, to deliver a smart hat with advanced ... runners and other athletes to monitor key biometrics ... of the strategic partnership, the two companies will bring ...
(Date:10/27/2015)... -- Munich, Germany , October ... automatically maps data from mobile eye tracking videos created ... that they can be quantitatively analyzed with SMI,s analysis ... , October 28-29, 2015. SMI,s Automated Semantic Gaze ... tracking videos created with SMI,s Eye Tracking Glasses ...
Breaking Biology News(10 mins):
(Date:11/27/2015)... , ... November 27, 2015 , ... ... that includes over 2,000 technical presentations offered in symposia, oral sessions, workshops, ... applied spectroscopy, covers a wide range of applications such as, but not limited ...
(Date:11/26/2015)... , England , November 26, 2015 /PRNewswire/ ... Medical, an innovative medical device company specializing in imaging technologies, ... from the European Commission as part of the Horizon 2020 ... company to carry out a large-scale clinical trial in breast ...      (Logo: , --> ...
(Date:11/25/2015)... , November 25, 2015 2 nouvelles ... fois les différences entre les souches bactériennes retrouvées ... des êtres humains . Ces recherches  ouvrent ... envisager la prise en charge efficace de l,un ... chez les chats .    --> 2 ...
(Date:11/25/2015)...  Neurocrine Biosciences, Inc. (Nasdaq: NBIX ) announced ... of Neurocrine Biosciences, will be presenting at the 27th ... York . .   ... minutes prior to the presentation to download or install ... be available on the website approximately one hour after ...
Breaking Biology Technology: