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SUMMARY:Developments in the measurement of natural capital to advance sust
 ainability assessment - Associate Professor Eli Fenichel\, Yale University
  
DTSTART:20181018T160000Z
DTEND:20181018T170000Z
UID:TALK110608@talks.cam.ac.uk
CONTACT:E Allen
DESCRIPTION:**This seminar is hosted jointly by the Cambridge Conservation
  Initiative & Centre for the Study of Existential Risk**\n\nWealth-based a
 pproaches to assessing sustainability are increasingly popular. A critical
  challenge to realizing the potential of wealth-based sustainability appro
 aches is measuring the value\, or change in value\, of natural capital. In
  this talk I review the theory of wealth-based sustainability\, show how i
 t leads directly to an approach for measuring the value of natural capital
  assets that aligns with the way produced and financial assets are valued\
 , show how the approach is extendable to capture important and unique feat
 ures of real assets\, chiefly natural capital assets\, and connect back to
  explain what this means for sustainability assessments in practice. I wil
 l discuss applications to fish stocks\, forests\, and culturally important
  endangered species. Important findings include empirical evidence that so
 ciety generally values natural capital more than is often believed\, which
  enables a strong argument for including these values in public accounting
  schemes to measure changes in welfare\, net production\, and sustainabili
 ty\; that weak vs strong sustainability can be reframed as an empirical qu
 estion that may hinge on uncertainty in the system with greater uncertaint
 y leading to a weak sustainability outcome\; and that ecological interacti
 ons are fundamental in determining changes in asset values.
LOCATION:Large Seminar Room\, Level 1\, The David Attenborough Building
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