Educating human capital for the preservation of natural capital
Awareness of the value of natural capital is increasingly important in the commercial world, where efficiencies and effective use of resources are under scrutiny.
The concept of ‘natural capital’ has a long history but it is only in recent years that it has carried a real weight of importance. As early as 1937 Roosevelt referenced an article which talked about ‘balancing the budget of our resources’, a very clear reference to what we know as natural capital today.
In its true sense, natural capital refers to the natural assets we utilise for economic production. There are three main categories of this: natural resource stocks, land and ecosystems, all of which are essential, not only to the long-term sustainability of economic development but also, of course, to the sustainability of all forms of life as we know them, including ourselves.
It is encouraging to know that so many groups and organisations now exist to examine the issues relating to the depletion of natural resources and the preservation of natural capital. The Natural Capital Initiative (NCI) is one such forum, involving scientists, policy-makers and industry in discussing how to support the development of science, policy and practice, in-line with an ‘ecosystem approach’ to decision making, where natural good and services are valued. The NCI has established a schedule of events and publications which aim to communicate its findings but how does all of this worthwhile discussion really translate into action?
Defra’s own Natural Capital Committee evolved from the Natural Environment White Paper, ‘The Natural Choice: Securing the Value of Nature’, published in June 2011. It is designed to ‘ensure that government has a better informed understanding of the value of Natural Capital, and will help it to prioritise actions to support and improve the UK’s natural assets’. With the government’s Sustainable Development Indicators (SDIs) already in place, we’re not sure what else the Committee will contribute that isn’t already known on a macro scale? We hope it will be more than just further discussion and debate.
One good thing, however, to come from the Committee is the establishment of Local Nature Partnerships (LNPs), of which there are now 48 across the country. Our understanding is that these will focus on three priorities: sustainable land use and management; green economic growth; quality of life and local health and wellbeing. We are pleased to see that Greater Cambridgeshire is listed among the 48 and are looking to see how our team might contribute to its efforts in the coming months.
For our own business and all others in the service sector, the key to success is our people and, although technically classified as human capital, not natural capital, there is clearly much cross-over. The role of human capital in economic development, productivity growth and innovation must not be underestimated either, nor must the role of human capital in the future preservation of our natural capital. Education is, therefore, surely at the very heart of the issue and the development of a national education system that builds knowledge and life skills in young people, which are relevant to the future of our global digital economy, is essential – here-in lies another topic close to our hearts with the work we are involved in with the Stephen Perse Foundation.