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Fish will remain a renewable resource provided we do not deplete stocks below critical thresholds, argues Dieter Helm. Photograph: Dylan Martinez/Reuters

 explains why we need to value natural capital.

““Nature is priceless”; “you can’t but a price on nature”; “economic valuations are a neo-liberal conspiracy”: these are the sorts of claims levelled at the natural capital approach to the environment. At best they represent a category mistake, and at worst they condemn the environment to yet more degradation.

The category mistake is a failure to understand what natural capital is, and what it requires to maintain and enhance it. Natural capital is everything nature gives us for free. Some of it can only be used once – the non-renewables – and some (the most important bits) keep on giving, provided we do not deplete the stocks below critical thresholds”.

Read on at: The Guardian