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E-book Mining, Minerals, and The Environment
One of the ideas at the heart of sustainable development is that of ‘capital formation’. In this report, five main forms of capital are discussed: natural, manufactured, human, social, and financial. In theory, determining whether the world is on the path of sustainable development is measured by the net gain or loss in the total of these capital stocks over time.There is as yet no common currency between all the forms of capital, so the judgement is bound to be subjective. Many people hold the view that natural ‘capital’ should not be used at a rate that exceeds the capacityfor replenishment or that reduces environmental quality, regardless of whether in the process other capital stocks are increased.1 Others believe that when natural capital is reduced, the conditions for sustainable development may still be met so long as other forms of capital, such as manufactured and human capital, increase.
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