Question

How do the concepts of ecosystem services and natural capital help us better understand the importance of environmental sustainability?

Answer 1

Natural capital is the worlds stock of the natural resourceses which creates the long term supply of the goods or services ,it is an extension of the economic notion of capital to goods and services provided by the natural envinorment ,it also provides the essential services like water catchment and erosion control ,which ensure the longterm viability of the resources .since the maintanance of thenatural capital requires the preservation of the cohesive system and are inportant in ensuring the long term sustainability of resources generated .

The concept of the ecosystem services providing the direct and indirect contributions to human well beings has been developed since 1990 as a way to improve effectiveness of the biodiversities protection plans . Ecosystem can be broad types provisioning ,regulating ,culture and habitat services .The status of the ecosystem services across the Eu is either degraded or mixed .the direct or indirect contributions of the ecosystem for the human wellbeing sometime also called ecosystem benefits .

the value of the ecosystem process defined by the TEEb involves 3 levels ;

recognizing the value that is identifying the wide range of the benefits in ecosystems ,landscapes ,species and other biodiversity linked aspects ,

Demonstarting value ,using the ecosystem economic tools and methods to make nature services the economically visible

capturing the valuve , incoperating the ecosystem and biodiversity benefits into decision through the incentives and price signals