Biodiversity Loss

Abstract

We depend on “nature” for air, water, food, shelter, energy and materials. There are two schools of thought about how to manage nature. One says that if we want to manage nature, we have to price it so we can take account of that when making decisions on how much damage a particular human activity may cause. The other says that something so instinctive to our collective well-being cannot be managed by a price. When the two words “capital” and “nature” are linked, there is a failure to assign parity between the two. Environmental and social impact assessments should be a warning, whereby developments have been approved in the face of clear residual environmental and social impact, because the economic case was overwhelming.