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Cod to caribou: Valuing natural capital based on ecological dynamics

Dr. Eli Fenichel with Yale university speaks on Wealth is the way one generation passes opportunities to the next, which makes changes in wealth central to measuring progress on sustainable development. Natural capital, often stored in ecosystems, is an important form of wealth. However, valuing natural capital has been a stumbling block for developing wealth accounts or even completing balance sheets within the current system of national accounts. In this talk I will review a body of work that provides usable prices for valuing natural capital. The pricing approach bridges standard accounting concepts, economic concepts of value, and the importance of ecological dynamics in the price of natural capital. Indeed, ecological dynamics and species interactions, not just population levels, explicitly enter the pricing formula. I will provide two real world examples, one that illustrates the value added of ecosystem based management and the other develops an economic concept of “conservation debt.”   

Friday, September 27 at 3:30pm to 4:30pm

Science and Engineering Research Facility (SERF)
1414 Circle Dr, Knoxville, TN 37996

Event Type

Lectures & Presentations

Topic

Science

Audience

Current Students, Faculty & Staff

Department

Ecology and Evolutionary Biology

Contact Name

Orou Gaoue

Contact Email

ogaoue@utk.edu

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