The Value of Nature

Emma JellLatest updates

What's the value of nature?

Yesterday’s inspiring Restore Nature Now march saw 350 environmental groups from across the UK come together to put pressure on UK politicians to take leadership on Nature, both locally and globally. More than 60,000 people turned up to show their support.

It would be hard to find someone who doesn’t care about Nature in any form at all. The air we breathe, the food we eat, the paths we walk, the water we drink and bathe in, the beaches we enjoy, the mountains we climb – the ability to heat our homes and travel from A to B, everything is fundamentally provided by Nature.

But Nature, in all its potential abundance, is simply ignored by economists, there is a blind spot which perhaps they don’t wish to see. Can we afford for this to continue?

Current economic theory came about because of societies’ need to account for resources, plan for the future, and exchange and allocate goods. It is therefore quite ironic that under traditional economics the very resources we rely on most heavily – those provided by the natural world – do not hold any economic value. To put it simply, economic thought has always taken for granted the supply of all things natural. Air, water, the existence of soil, plant growth, light and sunshine – these all hold a value of £0.00p.

A vivid explanation of this can be seen in the devastation of the rainforests in South America where millions of acres – 1.4 billion trees – are destroyed every year for momentary gain. But how much did it actually cost to create those rainforests? How do we value the benefits they gave us? How can we measure the cost of replacing those millions of acres of trees, and how long will it take?

The total scale of destruction in the Amazon is huge. 13.2% of the original Amazon forest biome has been lost due to deforestation and other causes. This equates to more than 85 million hectares.

We know that the Amazon forest provides a significant role to the world in absorbing CO2; we know it is one of the areas with the most biodiversity in the world, home to thousands of species of animals, plants, insects and birds, not to mention the 40 million people who live within its shelter; but still we continue to destroy this amazing natural resource.

What's the value of Nature?

Natural resources or natural capital, e.g. forests and oceans, are not taken into account when calculating the wealth of a nation, as they are assigned no inherent financial value. Our economic system is rigged towards valuing destruction; using free resources to generate wealth, rather than protecting the very resources from which we draw our wealth. Whether or not an ocean or a river is polluted or a thriving ecosystem counts for nothing economically. Of course this is completely illogical.

Putting a value on Nature is not a new concept – it is one that has been slowly gaining ground over the past few decades as we have come to realise the impact of ignoring the pollution we create, the balance of ecosystems and our neglect in protecting vital resources. We have treated Nature as though it is free and limitless without considering what happens when it’s no longer there. In fact we have mismanaged our most precious assets, our fundamental capital upon which all other goods and services depend. We know we can do better.

Laws to protect Nature have not been strong or wide ranging enough to be efficient at protecting Nature. Unfortunately there are too many forces who wish to exploit Nature – the free resource – for their own benefit, and our local and global lawmakers have not been able to fully stop this. There have been calls to include Ecocide (destruction of the natural environment by deliberate or negligent human action) as a 5th international crime against peace. 14 countries across the world have introduced Ecocide laws, but without international enforceability, given the global nature of the businesses responsible for destructive actions, it is not enough.

A transformation of how we value Nature could be a key ally in promoting the protection of Nature. By giving Nature an economic value we can ensure its value becomes a part of every political and economic policy. Its value as a capital asset will provide protection of those assets and attract investment to maintain and grow the capital.

We also need to better reflect the value Nature contributes to our individual, social and cultural wellbeing in key political and economic decisions. We know green spaces make us happier and healthier, yet 10 million people in England live in areas with very limited access to green space, and at least 500 schools in the UK have less than 1,000m2 of outdoor space and nearly 30 have no outside space at all.

Chris Packham, who proposed the Restore Nature Now march, made his point very clearly that right now, as we choose who to vote for as our next political representatives, we have a huge opportunity to change the dynamic in Westminster, and across the world. The UK has always been a global thought leader, so how we chose to vote now can create REAL impact, real hope, real change.

People are fed up with the lack of action from politicians to protect and improve nature, or to act on climate change. Restore Nature Now pointed to the following critical situations in the UK:

  • Pollution to air, water and soil
  • 1 in 6 British species are at risk of extinction
  • Lack of support to UK farmers who manage 70% of UK land
  • 3% of English land and 8% of waters are properly protected for nature and wildlife
  • Lack of fair and effective action on Climate Change

Amongst other solutions Restore Nature Now are also calling for an Environmental Rights Bill which would drive better decisions for nature, improve public health and access to nature.

I fully endorse the Restore Nature Now campaign and the Environmental Rights bill. Furthermore I strongly believe we can better use the current legal and economic systems we already have in place as a two pronged approach to solving our current local and global environmental crises. I would welcome international measures on Ecocide and a valuing of Nature which represents its true cost and value to us all. I feel this could fundamentally shift the political and economic powers into being able to implement real change.

A Green Vote is a powerful step in the best direction to enable lawmakers and economists to restore and maintain our Natural World.

Will you Vote Green on 4th July to show your support for the value of Nature to everyone? The Green Party are the only ones proposing an equivalent act of law.