Natural Resources
Natura Resources are raw materials or substances occurring in nature that can be used for economic gain or to support life.
Types:
- Renewable Resources: Replenish naturally within a human timescale (e.g., sunlight, wind, water, forests).
- Non-Renewable Resources: Finite and depleted with use (e.g., fossil fuels, minerals).
Factors Affecting the Use of Natural Resources
- Population Growth: Increased demand for food, water, and energy.
- Technological Advancements: Enables access to previously inaccessible resources but may also accelerate depletion.
- Economic Development: Industrialization increases resource extraction and consumption.
- Political and Legal Frameworks: Regulations and policies influence sustainable resource use.
- Cultural Values: Societies with high-consumption lifestyles exert more pressure on resources.
Natural Capital and Natural Income
- Natural Capital:
- The world’s stock of natural resources that provide ecosystem services and economic benefits (e.g., forests, oceans, clean air).
- Natural Income:
- The annual yield of natural capital, such as timber from forests or fish from oceans.
Value of natural capital
Natural capital has aesthetic, cultural, economic, environmental, health, intrinsic, social, spiritual and technological value. The value of natural capital is dynamic in that it can change over time.
Case study - Cork
The value of cork has changed continuously. Historically, cork was highly valued for its natural properties - Lightweight, buoyant, insulating, elastic, and water-resistant. It was used in bottle stoppers, insulation, footwear, and fishing equipment. The cork industry thrived, particularly in countries like Portugal, Spain, and Italy, where cork oak forests are prevalent. Due to the invention of alternatives like plastic and rubber, cork’s value started declining. However, due to sustainability trends value for cork has increased in recent years. Cork is now seen as an eco-friendly material due to its renewable and biodegradable nature. Consumers and industries are shifting back to cork as a sustainable alternative to plastics.
Intervention Strategies for Sustainable Use of Natural Capital
Natural capital needs to be used and managed sustainably. The long-term well-being of ecosystems and humans depends on resources not being used more rapidly than they can be regenerated, and on waste products not being released more rapidly than they can be transformed.
