What’s it about in short: LinkedIn Post on the valuation of ecosystem services and natural capital (business case)
When was it released: October 15, 2015
By whom: Pankaj Arora
Is natural capital accounting a Silver Bullet?
Needless to say, natural capital accounting has its limitations. Even though at the surface it looks to address and capture the external costs, it is not a silver bullet that will solve all the environmental problems. Food and Water Watch Europe has stated that natural accounting is a “desperate attempt to fix the failing economic model” and not to better manage it because it puts back the control of nature back into the hands of those who destroyed it in the first place (Hauter, 2013). Putting monetary value on nature requires assessing each and every aspect of nature and it is extremely difficult to put a value on nature based on the subjectivity and the biases involved (Food and Water Europe, 2013)