Human survival depends on nature yet economic growth is destroying ecosystems and biodiversity. Should we put a price on nature?
Putting a price on nature isn’t a new idea. In Natural Capital: Valuing the Planet, Sir Dieter Helm measures and values natural capital in terms of nature’s renewable and non-renewable resources. Helm acknowledges that human survival and wellbeing depend on protecting and restoring biodiversity and ecosystems, and proposes a framework for sustainable economic growth that is politically and economically viable. It makes no sense to judge a thriving economy on GDP alone and ignore the impact of economic growth on natural assets. The Dasgupta Review: The Economics of Biodiversity says we need to account fully for our interactions with nature if we want to stop the overexploitation of natural resources, the decline in biodiversity, and the destruction of ecosystems we depend on.Continue reading