The ability of natural assets to provide goods and services is determined by their quality, quantity and location. They also include non-use values, such as the value people place on the existence of particular habitats or species.” (page 63)Īt its simplest, a natural capital approach is about thinking of nature as an asset, or set of assets, which benefit people. These include use values that involve interaction with the resource and which can have a market value (minerals, timber, freshwater) or non-market value (such as outdoor recreation, landscape amenity). These services, often in combination with other forms of capital (human, produced and social) produce a wide range of benefits. Stocks of natural capital provide flows of environmental or ‘ecosystem’ services over time. Natural capital includes both the living and non-living aspects of ecosystems. “Natural capital includes certain stocks of the elements of nature that have value to society, such as forests, fisheries, rivers, biodiversity, land and minerals. Introduction to natural capital 1.1 What is natural capital?Īccording to HM Treasury's Green Book: Appraisal and Evaluation in Central Government natural capital is defined as: a new Annex (Annex 1), showing how ENCA can inform different topics of interestġ.new material included in Section 5 on natural capital planning, mapping and tools.new signposting for users approaching the guidance for the first time.This version of the ENCA guidance updates that of March 2020, reflecting developments in the evidence base and in improvements in response to user feedback. Generating new income streams to support the natural environmentįor a more detailed ‘roadmap’ of what ENCA can offer for specific cross-cutting themes of policy interest, see Annex 1 of this guidance. ![]() How ENCA can support my policy prioritiesįind monetary values for environmental effectsĮNCA Services Databook, ENCA Assets Databook and ENCA Featured ToolsĪssessing natural capital that I own or manageĮxperience with natural capital approaches Understanding whether my proposal will affect nature ![]() ![]() I am interested inĪn overview of natural capital and its relevanceĪpplying HM Treasury Green Book guidance on Natural Capital This table signposts relevant sections of this guidance and the wider ENCA resource, according to user interest. Natural capital has a wide range of applications and so this guidance aims to meet the needs of various users. It forms part of a suite of Defra resources collectively called ‘ Enabling a Natural Capital Approach’ ( ENCA).ĮNCA is recommended for use by HM Treasury's Green Book: appraisal and evaluation in central government (2020) and represents supplementary guidance to the Green Book. This guidance is intended for those looking to learn about natural capital and to apply it.
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