Natural Resources: The Foundation of Human Society
Natural resources
Natural resources are materials and energy sources found in nature that humans use to meet their needs.
Sunlight, water, fossil fuels and minerals
They can be classified into two main categories:
- Renewable resources: These can regenerate or replenish naturally over a short period.
- Non-renewable resources: These exist in finite amounts and take millions of years to form.
The Value of Natural Resources
Natural resources hold value in multiple ways:
- Economic: Resources like fossil fuels and minerals drive industries and economies.
- Environmental: Ecosystems regulate climate, purify air and water, and support biodiversity.
- Cultural and Spiritual: Many cultures view nature as sacred or integral to their identity.
- Intrinsic: Nature has value simply because it exists, independent of human use.
- To what extent can economic principles be applied to natural capital?
- Does putting a price on nature help or hinder conservation efforts?
Renewable Resources
- These resources can regenerate or be replenished naturally within a human lifetime.
- However, they can become depleted if used unsustainably.
- Assuming all renewable resources are infinite.
- Overuse can lead to depletion, such as deforestation or overfishing.
Non-Renewable Resources
- These resources exist in finite amounts and are not replenished on a human timescale.
- Once used, they are gone or take millions of years to regenerate.
- Some non-renewable resources, like metals, can be recycled, extending their usability.
- However, recycling requires energy and infrastructure.
Natural Capital: The Stock of Earth's Resources
Natural capital
Natural capital refers to the total stock of natural resources (both renewable and non-renewable) that provide ecosystem services benefiting humans and the environment.
It includes three main types:
1. Renewable Natural Capital
Renewable natural capital
Renewable natural capital is a resource that regenerates naturally over time and provides ongoing benefits.
- Forests: Provide timber, carbon sequestration, and habitat for wildlife.
- Fish Populations: Sustain marine biodiversity and food supply.
- Freshwater Systems: Support drinking water, irrigation, and hydropower.
Sustainability Concern: Overharvesting can deplete these resources faster than they regenerate (e.g., deforestation, overfishing).
2. Non-Renewable Natural Capital
Non-renewable natural capital
Non-renewable natural capital is a resource that exists in finite amounts and cannot be replenished within a human lifespan.
- Fossil Fuels: Coal, oil, and natural gas for energy production.
- Minerals & Metals: Copper, iron, lithium (used in electronics, construction).
- Phosphate Rocks: Essential for fertilizer production and global food security.
Sustainability Concern: Extraction and consumption lead to depletion, pollution, and environmental degradation.
3. Ecosystem Services (Intangible Natural Capital)
Ecosystems services
Ecosystem services or intangible natural capital are nature’s "free services" that support life and human well-being.
- Climate Regulation: Forests and oceans absorb CO₂, reducing global warming.
- Pollination: Bees and other insects sustain agriculture and food production.
- Soil Fertility: Microorganisms and decomposers recycle nutrients for crops.
