The past decade has shown an increasing use of the concept of natural capital. The time has come for a short mid-term review: What is the current state of affairs as far as the use and applicability of the term natural capital is concerned? In this article, we address this question by delving into four fields of application, namely (i) National Accounts to be enriched and accompanied by the Atlas of Natural Capital; (ii) the macro-economic system of Natural Capital Accounts; (iii) the incorporation of natural capital in business decision making; and (iv) natural capital in spatial planning. Although the concept has not been fully crystallized yet, and its applicability is still under investigation, the concept appears to be of added value for spatial planners, policy makers and (sustainable) entrepreneurs. Not as a monetary measure for nature, but mainly as an awareness raising concept that identifies and describes the importance of nature and landscape as the basis for our welfare and prosperity. But if the concept wants to remain of value, a systematic further development of the various fields of application, and of their user-friendliness, is required. Doing so helps us to better understand the value of (the concept of) natural capital.
|Translated title of the contribution
|Natural capital in decision making
|Number of pages
|Published - Jul-2020