Renewable & Non-renewable Natural Capital
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Natural capital is the term used to describe resources from nature that are managed by humans because they provide goods or services
- Natural goods and services can include directly marketable goods, such as timber and crops, or broader ecological services, such as the flood protection provided by mangroves, or the erosion prevention and climate regulation services that forests provide
- Renewable natural capital includes natural resources that can be replaced or regenerated at a rate equal to or faster than they are being used
- On the other hand, non-renewable natural capital includes natural resources that cannot be replaced or regenerated at a rate equal to or faster than they are being used
- This is because these resources are either irreplaceable or can only be replenished over geological timescales (i.e. extremely long periods of time)
Renewable Natural Capital
- Living species and ecosystems: these include forests, wetlands, coral reefs, and grasslands, which can regenerate through natural processes - these systems are typically able to do this due to their ability to harness solar energy and use photosynthesis to convert it into biomass
- For example, forests (which provide fuel wood for many communities and are harvested for timber) have the capacity to regenerate through seed dispersal and natural growth, allowing new trees to replace the ones that have been harvested
- Likewise, wetlands (which play a vital role in maintaining water quality, regulating floods, and providing habitat for diverse species) can self-sustain and regenerate, through natural processes like sedimentation and nutrient cycling, even after disturbances such as droughts or human activities like mining or construction
- Non-living systems: these include renewable resources such as groundwater, which can be replenished through natural processes, and the ozone layer, which can recover through the reduction of ozone-depleting substances
- For example, groundwater is recharged by precipitation and infiltration, ensuring that it can be sustainably used as a freshwater resource
- The ozone layer can also regenerate itself naturally, as long as the emissions of ozone-depleting substances are significantly reduced, allowing the stratospheric ozone concentration to recover over time
Non-renewable Natural Capital
- Fossil Fuels: coal, oil, and natural gas are finite resources formed over millions of years from the remains of plants and animals
- Once extracted and burned for energy production, they cannot be replaced within human timescales
- Although not a fossil fuel, uranium, used in nuclear power plants, is also considered as non-renewable natural capital as uranium reserves cannot be replenished within human timescales
- Soil: while soil is a renewable resource to some extent, it can be considered non-renewable when it is degraded or eroded at a faster rate than it can be naturally replenished
- Unsustainable agricultural practices, such as excessive tilling and deforestation, can lead to soil erosion and depletion, rendering the soil non-renewable for practical purposes
- Urbanisation and construction activities can result in the permanent loss of fertile soil, effectively removing its ability to regenerate in those areas
- Minerals: these include various elements and metals extracted from the Earth's crust, which are finite and cannot be replenished within human timescales
- For example, rare-earth minerals used in electronics and technology, such as neodymium and lithium, are non-renewable resources with limited reserves
- Similarly, precious metals like gold and silver must be recycled or obtained from existing stockpiles once natural reserves have been completely extracted