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• W332572072 abstract "Natural Capitalism offers our best hope for achieving a sustainable future. It's generally conceded that two great wars were the defining events of the 20th century. When future historians look back on the century, however, they may well decide that a third war--the war against the Earth--was the single most important event of the era. Industrial capitalism has been waging a war against the Earth for nearly a quarter of a millennium. Today, however, a new form of capitalism, rapidly emerging in a growing number of businesses, is confronting industrial capitalism on a broad front and is offering hope that the war against the Earth can finally come to a close. We call this new economic system Natural Capitalism. The very term itself emphasizes that industrial capitalism, as it is now practiced, is unnatural and an aberration. Industrial capitalism defies its own logic. It does not value, but rather liquidates, the most important forms of capital, especially natural capital--the biological world whose resources and ecosystem services make possible all life. According to a pioneering analysis of the world's ecosystems prepared by the United Nations, the World Bank, and the World Resources Institute, are considerable signs that the capacity of ecosystems, the biological engines of the planet, to produce many of the goods and services we depend on is rapidly declining. [1] Fortunately for the Earth, however, the emergence of Natural Capitalism could well mean that the end of the decline is in sight. Ecosystem Services Ecosystem services are the natural processes vital to the planet's metabolism. They include the natural resources, but also the many values of intact ecosystems. These free and automatic services provide tens of trillions of dollars of worth each year--more than the global economy. Indeed, their value is nearly infinite, since without them there can be no life and therefore no economic activity. But none of their value is reflected on anyone s balance sheets. Deficient logic of this sort can't be corrected simply by monetizing natural capital. Many key ecosystem services have no known substitutes at any price. The $200-million Biosphere II project, despite a great deal of impressive science, was unable to provide breathable air for eight people. Biosphere I, our planet, performs this task daily at no charge for six billion of us. The best technologies can't substitute for water and nutrient cycling, atmospheric and ecological stability, pollination and bio-diversity, topsoil and biological productivity, and the ability to assimilate and detoxify society's wastes. There is no longer any serious scientific dispute that every major ecosystem service in the world is in decline. With 10,000 new people arriving on Earth every hour, more people are chasing after fewer resources. The limits to economic growth are coming to be set by scarcities of natural capital. These ecosystem services underpin all life and thus all economic activity. This is not to say that commodities are scarce. Prices for such resources as oil--despite the recent price spike--and copper are low and will trend downwards for some time, in part because companies have gotten better at extracting these materials with very powerful technologies that look cheap, especially if their environmental costs are not counted. Increasingly, what is limited is the ability of deteriorating living systems to sustain a growing human population. Sometimes the cost of destroying ecosystem services becomes apparent only when the services start to break down. In China's Yangtze basin in 1998, for example, upstream deforestation triggered flooding that killed 3,700 people, dislocated another 223 million, and inundated 60 million acres (24 million hectares) of cropland. That US$30-billion disaster forced a logging moratorium and a $12-billion crash program of reforestation. …" @default.
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• W332572072 date "2000-12-22" @default.
• W332572072 modified "2023-09-22" @default.
• W332572072 title "Pathway to Sustainability" @default.
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