Natural capital

Natural capital refers to the mineral, plant, and animal formations of the Earth's biosphere when viewed as a means of production of oxygen, water filter, erosion preventer, or provider of other natural services to mankind. It is one approach to ecosystem valuation. The term is most closely identified with Robert Costanza, the Biosphere II project, and the Natural Capitalism economic model of Paul Hawken, Amory Lovins, and Hunter Lovins. Indicators adopted by UNEP, WCMC and the OECD to measure biodiversity use the term in a slightly more specific way. However, all users of the term differentiate natural from manmade manufactured capital or infrastructural capital in some way. It does not appear that the basic principle is controversial, although there is much controversy on indicators, services, valuation, metrics and methods.