Pub. date: 2011 | Online Pub. Date: May 04, 2010 | DOI: 10.4135/9781412973816 | Print ISBN: 9781412996822 | Online ISBN: 9781412973816| Publisher:SAGE Publications, Inc.About this encyclopedia
Natural capital is the way economists refer to the natural environment, and in particular, aspects of nature that are of use to humans including minerals, biological yield potential, and pollution absorption capacity. The term is used to include the goods and services provided by the environment as components of the economic system. According to the Organisation for Economic Co-operation and Development (OECD), natural capital consists of natural resource stocks, land, and ecosystems. In a city, natural capital that add to environmental amenity would include rivers, harbors and beaches, wild areas, sporting facilities, parks, community gardens, as well as the trees, flora, and fauna that live there. Urban natural capital helps improve the lives of residents, both mentally and physically, and can be instrumental in attracting tourism, a skilled workforce, and can help increase area property values. The air, soil, and water supply are also part of urban natural capital that ...