2.  A stock in an ecosystems that can provide valuable goods or services to humans  Forest = timber = $$

3.  Economic Value: Capital can be bought or sold based on the market price of the goods and produced  Timber and crops

4.  Ecological Value: Capital has no formal market price but creates something necessary for life. (Often taken for granted)  Photosynthesis, nitrogen fixation, prevent soil erosion

5.  Aesthetic Value: Capital provides enjoyment for humans “Nature’s beauty” and has no price or required service. ◦ Hiking & photography

6.  The rate of harvest or services produced from the natural capital.  Example: ◦ Cherry tree produces cherries ◦ Water cycle produces fresh water ◦ Photosynthesis creates oxygen

7.  Renewable: Living species in ecosystem which can be replaced as fast as they are used by humans  Ex. Food crops & timber

8.  Replenishable: Non-living resources which can be continuously restored as fast as they are used  Dependent on solar “engine” for renewal  Ex. Ozone layer & groundwater

9.  Non-Renewable: resources which cannot be replaced (except over VERY LONG TIME) ◦ Using these will deplete a storage that will not be built up again ◦ Ex. Fossil fuels, minerals from the Earth ◦ To prevent depletion we must  1. Improve efficiency of use  2. Develop substitutes  3. Recycle

10.  Resources use is always changing and so is its perceived value to humans.

11.  Uranium is only recently valuable to humans because of nuclear technology  Value is applied from humans perspective  Gold is expensive but also serves little ecological benefit

12.  Goal is to support a society without depleting essential forms of natural capital  “Living within the means of nature, on the interest generated by natural capital”  Sustainable development ◦ Brundtland report in “Our common future” 1987 ◦ Rio Earth Summit, Agenda 21 1992

13.  Sustainable Yield (SY) is the annual gain in biomass or energy through growth and recruitment (addition of individuals to population)  SY Calculations ◦ (annual growth and recruitment) – (annual death and emigration) ◦ (biomass/energy at time t +1) – (biomass/energy at time t)  The Earth does not have enough resources to support everyone at the rate of consumption enjoyed by the U.S. Europe, and Japan