On 30th April 2020, an Interim Report on The Economics of Biodiversity was published by the UK government. Commissioned by UK Treasury and led by economist Professor Sir Partha Dasgupta, the report is shorthanded as 'The Dasgupta Review', following the tradition established by the 2014 'Stern Review' on The Economics of Climate Change authored by … Continue reading The Dasgupta Interim Review on the Economics of Biodiversity – Feedback
… capitalism cannot be fully attained or practiced [sic] until... we have an accurate balance sheet [that places] natural capital on the balance sheets of companies, countries, … [and] the world. A global consolidation of ecological accounting, and particularly natural capital accounting, aims to make nature values visible both as stocks of ‘natural capital’ and … Continue reading The balance sheet of nature? On making monetary value of UK ‘natural capital’
This post responds to an invitation to add my views to a comments thread regarding the 'Green Paper' for A Nature and Well-being Act (hereafter 'Green Paper'), published in 2014 by the The Wildlife Trusts and the RSPB. The comments thread makes reference to work of mine by the anonymous 'todaysmysteryguest’, writing on Jan 8th … Continue reading On ‘natural capital’ and ‘ecosystem services’ in the proposed Nature and Well-being Act (The Wildlife Trusts and RSPB)
The Making of ‘Natural Capital’ Increasingly, it seems, nature is actually money. The contemporary moment of global crisis in both ecological and economic spheres is also the moment wherein ‘Nature’ is being refashioned as ‘Natural Capital’. Key interlocking elements thus are joining the previously rather separate domains of economics, business and finance, with ecology, environmentalism and conservation. … Continue reading The natural capital myth
1. On elephants and economics In 1993, Australian ecologist Graeme Caughley published a paper on elephant conservation and market reasoning in Conservation Biology. Responding to proposals that clear ownership designations and the ability to sell harvested ivory on a free market would incentivise the conservation of African elephants, he showed that this approach might … Continue reading Biodiversity conservation, financialisation and equity: some currents and concerns
On 8 July, an opinion piece was published in the journal Nature under the title ‘The Business of Biodiversity‘. In it, Ricardo Bayon of EKO Asset Management Partners, and Michael Jenkins, Director of Forest Trends, argue that: ‘Imposing a price on natural resources and ecosystem services is by far the most effective way of forcing … Continue reading The business of bio(cultural) diversity?
What are "Ecosystem Services"? At first hearing, they sound like a firm of consultants who help you repair your ailing ecosystem. In fact it's the other way round - the service is provided by people with ecosystems to people who no longer have one, and who need one. For example if your forest, or your … Continue reading An ecosystem at your service?