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Published in:
2015 | OriginalPaper | Chapter
N
Author : Samuel O. Idowu
Published in: Dictionary of Corporate Social Responsibility
Publisher: Springer International Publishing
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Abstract
Natural capital is all formations of the Earth’s biosphere that provide humans with ecosystem goods and services imperative for survival and well-being. Furthermore, it is the basis for all human economic activity. So, the world's economy could be seen within the larger economy of natural resources and ecosystem services that sustain humanity. In this way, natural capital is an extension of the economic notion of capital (manufactured means of production) to goods and services relating to the natural environment. More than that, the specialists consider that the “next industrial revolution” depends on the espousal of four central strategies linked to natural capital: the conservation of resources through more effective manufacturing processes, the reuse of materials as found in natural systems, a change in values from quantity to quality, and investing in natural capital, or restoring and sustaining natural resources [1].