“Natural capital” might be a new concept for now, but it will surely be popular soon. “National Accounts” should be more familiar to you, but how to account for national capital in the System of National Accounts (SNA) is a new big deal. On the way of learning, I save basic materials and also some food for thought here.
Food for thought:
- I still think that environmental services are different to ecosystem services. It might be true to say that national capital includes ecosystem services, but you should not say the same thing with environmental services. The natural capital would never be able to include “quasi-option value” is just one reason. But I might find myself wrong down the track.
- It would be nice if we can use GIS to present the ES values and even the natural capital on a 2D map.