Natural capital is the world's stocks of natural assets. This includes geology, soil, air, water and all living things. The economy derives a wide range of services from natural capital, sometimes called ecosystem services.
Ecosystems thus present crucial opportunities in terms of marrying economic growth and environmental conservation. Numerous initiatives, including The Economics of Ecosystems and Biodiversity (TEEB) and Wealth Accounting and the Valuation of Ecosystem Services (WAVES), seek to help policy makers and practitioners incorporate the “living fabric” into development planning, accounting and decision-making.
Relevance to SDGs
Sustainable Development Goal (SDG) 15 covers loss of natural capital. In particular, goal 15.5 covers halting the loss of natural capital and 15.9 emphasizes the integration of natural capital values into national and local planning, development processes, poverty reduction strategies and accounts.
Explore green growth resources related to SDG 15: