I used to think that the only thing needed for better environmental policy was a government that could stand up to polluters. While this still may be the most effective approach in some instances, these days, I realize the issues are more complex. In some situations, direct financial incentives may be an effective way to improve environmental quality. read more...
Value of Natural Capital in the Credit River Watershed
The natural capital of the Credit River Watershed near Toronto, Ontario, provides more than $371 million in ecological services to area residents every year. This finding is revealed in a new study by Mike Kennedy of the Pembina Institute and Jeff Wilson of Credit Valley Conservation.
“Natural capital is like the warehouse of nature.”
“Something not factored into modern economics are all of the services that nature provides us for free, just by its mere existence — things like clean water, waste processing, climate regulation, pollination and a host of other services that are essential to human survival.”
Perhaps surprisingly wetlands provide the highest economic values in services to the residents of the Credit Valley, contributing natural waste treatment, climate regulation and water supply services worth millions of dollars. The implication: remove the wetlands, lose the services.
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