General

The natural capital framework for sustainably efficient and equitable decision making

Background

The concept of ‘natural capital’ is increasingly accepted in government and private sector decision-making for its role in sustaining economic and social well-being. However, the field is fragmented, and many applications misuse its foundations in economics and ecology, which this perspective addresses by proposing an integrated framework.

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Valuing natural capital and ecosystem services toward the goals of efficiency, fairness, and sustainability

Background

Natural capital (NC) and ecosystem services (ES) are fundamental to sustaining human life, but valuing them requires a whole-system understanding of the interdependencies between humans and nature. Conventional economic valuation, based solely on individual willingness-to-pay, is too narrow for this complex task.

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Ecosystem services in decision making: time to deliver

Background

Over the past decade, valuing and protecting ecosystem services has been promoted as a strategy to mainstream conservation globally. While the vision of the Millennium Ecosystem Assessment is gaining traction, a significant scientific and policy-implementation gap remains. Natural capital is often undervalued or ignored in major decisions by governments, businesses, and the public, a problem highlighted by natural disasters and crises where the loss of protective services becomes starkly apparent.

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Diverse values of nature for sustainability

Background

Despite 25 years of progress in valuing ecosystem services, a global biodiversity crisis persists, underpinned by a "values crisis." Current policies and decisions often prioritize a narrow subset of market-based instrumental values, ignoring the diverse ways people relate to and benefit from nature. This paper, based on the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) Values Assessment, synthesizes over 50,000 sources to address this gap.

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The enduring world forest carbon sink

Background

Forests are critical to mitigating climate change because they absorb atmospheric carbon dioxide (CO₂) and store it in biomass and soils. In 2023, atmospheric CO₂ levels exceeded 420 ppm, intensifying the urgency to understand terrestrial carbon sinks. Forests historically lost 180 Pg of carbon through land-use change, yet they remain central to achieving global net-zero goals by 2050. While remote sensing and modeling offer insights, this study emphasizes long-term, ground-based forest inventory data as the most reliable source for assessing trends in carbon sinks across boreal, temperate, and tropical forest biomes.

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