ENV201H5 Lecture Notes - Lecture 3: Natural Capital, Features Of The Marvel Universe
Document Summary
Using resources to meet humans" current needs w/o preventing future gen and other species from meeting their own needs. Maintains rather than exhausts sys that support life (textbook) Everyone deserves clean env and livelihood = equity. Sustainable: process or activity that can be maintained without exhaust/collapse. Development: act of improving by expanding, enlarging, refining - growth. Total capital maintained or improved for future generation. These need to be sustained (transforming natural into manufactured capital) Forest gives timber which could be sold and used to build things (econ value) 100% of material is transformed into a good or service. Other half of forest efficiently turned into manufactured capital. Considered a weaker form of sustainability (hence name) Generate enough manufactured capital is ok to use natural capital. Tech advances will create tech sol"n to env problems. Cant transform podium back into tree (irreversible process) Natural cap can"t be subbed for future manufactured capital.
