Natural capital and New Zealand’s Resource Management Act (1991)
AbstractQuantifying natural resources as natural capital and the valuation of the ecosystem services that flow from natural capital stocks are emerging areas of science. Are these developing concepts compatible with current resource management legislation? Can these ideas be used in judicial proceedings to protect natural capital and maintain the portfolio value of nature‟s ecosystem services? We describe two recent cases in New Zealand where natural capital concepts were used in the Environment Court to protect land from peri-urban creep and to protect receiving water quality through the allocation of a nutrient discharge allowance to land. Results have been mixed, with prospects appearing good.
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Bibliographic InfoPaper provided by New Zealand Agricultural and Resource Economics Society in its series 2012 Conference, August 31, 2012, Nelson, New Zealand with number 136044.
Date of creation: Aug 2012
Date of revision:
Environmental Economics and Policy; Land Economics/Use;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-11-24 (Agricultural Economics)
- NEP-ALL-2012-11-24 (All new papers)
- NEP-ENV-2012-11-24 (Environmental Economics)
- NEP-RES-2012-11-24 (Resource Economics)
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