Critical natural capital

This paper discuss about the influx policy that should be taken by the government. Project-induced-in-migration (or influx) is the movement of people from area outside project-impacted zone to the project-impacted zone. The aim of it is to find economic opportunities and improving quality of their life. Aldi et al. (2013) stated that the influx has many negative effects especially for the social and environmental aspects in the mining project areas and its surrounding.The three main negative effect that are materialized, (i) The increasing of crime rate; (ii) the marginalization of indigenous people by the immigrant communities; and (iii) the decreasing of public health quality since the mining operation. Three important actors in development, which are the government as policy makers, the companies as capital modals, and society as the object who affected both directly or indirectly; each of them has their own role play and perception of influx. They also have own solution to cope ...

The ‘Triple Bottom Line’ (TBL) is a major and increasingly used socio-environmental accounting framework. However, critical academic examinations of this model have been remained scarce and most importantly, no real alternatives have been developed. Thus this theoretical paper provides a contribution to fill this gap. Through a critical analysis of the TBL, we argue that it suffers from severe limitations. In particular, it does not protect human and natural capital (HNC). As an answer to these problems, we propose and discuss another accounting framework, the ‘Triple Depreciation Line’ (TDL), which extends to HNC the powerful capitalist accounting tool for preserving financial capital – the historical cost accounting (HCA) and its planned depreciation. To this end, we analyse and (re-)define the concept of capital in an ecological accounting context. We clearly specify the assumptions on which the TDL relies, to facilitate comparisons or dialogues with other accounting models and to avoid misunderstanding as in the case of the TBL. These axioms concern what we call the ‘social’ (axioms SA1–2) and ‘corporate’ (axioms AA1–4) capital maintenance. While the two first appeal to the most precise ontological investigation possible of HNC, the others imply mainly the recourse to the HCA and its depreciation.

We study how different world views may influence how to develop sustainable development indicators. The comparison of weak sustainability and strong sustainability serves as a guide to estimate the share of objective versus normative choice of parameters and their method of aggregation. We then present a typology of actors and shared responsibilities, which may also introduce large discrepancies in the results published. Some case studies illustrate these different elements in contrasting contexts. It appears that it is possible to identify in each calculation of sustainable development indicator, a relatively objective component of sustainability and a negotiable component of shared rights and responsibilities.
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Différentes visions du monde peuvent influencer la manière de concevoir des indicateurs de développement durable. La typologie des acteurs ou « univers de mesure » en statistique et le choix des unités sont liées à une vision inévitablement politique du partage des responsabilités.

Je redéfinis la soutenabilité faible comme étant la réduction de la complexité à une dimension unique. Il y a dès lors autant d'indicateurs de soutenabilité faible que de choix possibles de cette dimension unique. J’illustre les limites des indicateurs en valeur monétaire de type "PIB" ou « PIB vert », des indicateurs de "dématérialisation de l'économie" et des permis négociables. L'empreinte écologique relève également de la soutenabilité faible, mais d’un point de vue « écologique ».

La soutenabilité forte se caractérise au contraire par la multiplicité de dimensions ou "capitaux critiques" dont le dépassement d'un seul suffit à déterminer la non soutenabilité. Ces limites peuvent être déterminées de manière relativement objective. Des indicateurs différents y sont nécessaires pour évaluer les responsabilités et les impacts pour divers problèmes environnementaux ou sociaux majeurs.

En conclusion, il est possible d'identifier, dans chaque calcul d'indicateur de développement durable, une composante relativement objective de soutenabilité et une composante négociable de partage des droits et responsabilités.

Recommendations presented to a Directors’ Dialogue on ESG Strategy for the Board on the theme of turning rhetoric into reality in a VUCA world with international participation and organized by India’s Institute of Directors. ESG strategies are about opportunity and responsible innovation, enterprise and capitalism. Boards should encourage the offering of new options and choices for stakeholders and wider communities to live and operate more sustainably and in harmony with the natural world.

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Covid-19 lockdowns, local restrictions and resulting slowdowns and/or recessions have resulted in new ways of working and operating. The implications of these changes and virtual operation for corporate productivity depends upon a number of factors such as assumptions made, differential activity and sectoral impacts, whether and how associated costs and externalities are accounted for, and how financial and other consequences are assessed. Virtual operation is more appropriate for some activities and people than for others. Its advantages and disadvantages can depend upon activity, role or task and the situation, context, people and personalities involved, the nature and extent of support provided, and whether a change is voluntary or imposed and is intended to be temporary or permanent. Views of the people involved and those they interact with can change over time. Assessors should allow time for changes to settle and endeavour to take account of the particular circumstances of the COVID-19 pandemic and embrace wider considerations such as social and environmental impacts. Responsible leaders endeavour to ensure that corporate measures of productivity and performance do not encourage behaviours and outputs that are undesirable and that corporate responses and activities along with their assessment reflect externalities, natural capital, environmental and social considerations and Sustainable Development Goals.

Today's sustainable finance mainly relies on the extension of a particular classical capital theory to extra-financial types of capital (in particular human and natural). We call (and justify it) this mainstream theory, the Fisherian-(falsified) Hicksian approach. After a critical analysis of this model, we claim that this way of conceptualising sustainable finance is finally unsustainable. At the same time, we also defend the idea that there is a convergence between ecological-based sustainability (which we can call by definition a genuine sustainability) and the extension of the traditional accounting framework to extra-financial types of capital. Therefore, we propose to structure a sustainable finance from this perspective (which we call CARES, for Capital Approach Resting on Ecological-based Sustainability): after having defined how to operationalise and theorize such a sustainable accounting, thanks to the " Triple Depreciation Line " model (Rambaud & Richard, 2015), we use this model to redefine the notion of free cash-flows to make them " sustainable ". We finally discuss the manner they can be used for financing purposes.

Natural Capital,sustainable business models,eternal business models,sustainable business systems,productive business models,survival business models,understanding models,self sustainable business systems,circular economy,closed loop systems,energy efficient system,creative thrive,Feeding world, big picture, the oneness concept,balancing nature,

The Greifswalder approach was developed over many years in the co-operation of environmental philosophers and ecological economists. The theory combines normative arguments on our responsibilities for current and future generations (intra- and intergenerational justice), the conceptual debate on weak vs. strong sustainability, a new concept for natural capital with practical applications in three sectors: fisheries, agriculture and climate change policy. It was developed as an answer to the increasingly vague understanding of the sustainability concept in the political arena, which gives politicians the possibility of subsuming under it all sorts of different programs and strategies. A sharper definition of the concept is needed that offers a non-arbitrary orientation ground for action to end the further loss of essential parts of natural capital without becoming too rigid and exclusive of differences.In this paper we give firstly a short overview about the philosophical background of the theory and about the conceptual debate on weak and strong sustainability. Secondly, we depict our concept of Natural Capital, which draws on Georgescu-Roegen’s systematic framework of fund, stock, services, and flows and focuses on a central characteristic of nature: its (re)productivity. Accordingly, natural capital consists of living funds, non-living funds, and stocks. This differentiation offers a helpful ground for identifying specific preservation goals for the different parts of natural capital and can be successfully employed in the advice for policy makers (as it has been the case with the German Advisory Council for the Environment over a decade). Moreover, the outlined theory of funds avoids the main problems related to the standard definition of ‘capital’ according to capital and growth theory,which implies a homogenizing view and the necessity of monetary valuation.In the final part we will then show how the Greifswalder approach can help to identify ways for a long term sustainable use of renewable resources for fisheries management in the European Union.

This is the Sri Lankan paper presented by Justice Saleem Marsoof PC, Judge of the Supreme Court of Sri Lanka, entitled “The Natural Capital & the Rule of Law – A Sri Lankan Perspective” at the Second Asian Judges Symposium on Natural Capital and the Rule of Law held in Manila, Philippines, in December 2013.  In this brief paper, after a brief introduction, Justice Marsoof discusses the importance of the Sri Lankan coast and ecosystem, particularly, as a defence against natural disasters, and goes on to shed light on the existing Sri Lankan legal infrastructure, before examining the role played by the Sri Lankan Judiciary at various levels in ensuring compliance by the relevant authorities of their obligations with respect to the conservation, management and protection of the Sri Lankan coast and ecosystems and its natural capital in general.

In this presentation, we firstly give a critical analysis of Natural Capital (NC), in order to clarify the differences between its economic and ecological approaches. Secondly, we connect this debate with the concept of capital in accounting. We argue that accounting theory provides a relevant framework to structure the debate on NC and to implement its ecological conceptualisation. Thus, in the first part, we question the notion of “capital” itself and assert that “capital” is not prima facie money or a mean of production but is a type of power (Nitzan & Bichler, 2009). Indeed, this concept is consubstantial of Modernity, characterized by the Subject/Object dichotomy (Latour, 2004), and of capitalism – a particular modality of the Modern cosmology –, defined as a societal institution based on the unlimited expansion of the rational mastery of Subjects over Objects (Castoriadis, 1998): Capital is the operationalization of this rational mastery. Therefore, by definition, NC is not another type of capital: NC is the natural part of Capital, i.e. the recognition that the Capital partially stems from environmental Objects and so that, these Objects, in the same time, are means under the control of Subjects and contribute to the growth of the power and welfare of these last ones. Now, in economics, Capital has two fundamental forms that we will detail: the fundist one and the materialist one (Hicks, 1974). Their application to NC can clarify the concepts of weak and strong sustainability: in particular, strong sustainability is a specific materialist conceptualisation of NC and so remains based on a capitalist approach. In these conditions, the utilization of the notion of NC by ecologists gives raise to confusion, because it does not rely on capitalism. Ecological NC (ENC) is not “welfare-based” but “stuff-based” (Norton, 2005), i.e. ENC is really another type of capital, whose role is to focus on the preservation of environmental entities. So we will explain what a capital is in this context. In the second part, we firstly claim that double-entry bookkeeping accounting is relevant to reformulate the different viewpoints about NC. Indeed, for capitalism, firms are automated tools which manage some assets in order to develop the Capital of shareholders, the “real” Subjects. Thus, at the corporate level, the economic notion of Capital is not a liability, whose specific conservation implies accountability issues, but is an asset. Therefore the capitalist NC is also an asset, a mere mean. Now, for traditional accounting, capital is a liability. The standard accounting capital is money: its maintenance is the cornerstone of accounting and led to the creation of powerful instruments, like the planned depreciation. So we argue that ENC must also be seen as a liability: therefore, at the corporate level, the difference between a capitalist and an ecological NC relies on the difference between assets and liabilities. In these conditions, we finally suggest that the development of an ecological conceptualisation of NC naturally rests on the extension of the traditional accounting maintenance instruments to this new capital (cf. (Rambaud & Richard, 2013). References
Castoriadis, C. (1998). The Imaginary Institution of Society. (K. Blamey, Trans.) (p. 426). MIT Press.
Hicks, J. R. (1974). Capital Controversies: Ancient and Modern. American Economic Review, 64(2), 307–316.
Latour, B. (2004). Politics of Nature: How to Bring the Sciences into Democracy (p. 307). Harvard University Press.
Nitzan, J., & Bichler, S. (2009). Capital as Power. A Study of Order and Creorder (p. 463). Routledge.
Norton, B. G. (2005). Sustainability (p. 607). The University of Chicago Press.
Rambaud, A., & Richard, J. (2015). The Triple Depreciation Line ( TDL ) against the Triple Bottom Line ( TBL ): Towards a genuine integrated reporting, Critical Perspectives on Accounting.

Les « outils économiques » avancés par les pays riches pour limiter le déficit écologique planétaire partent du principe du pollueur payeur. Dans un cadre d’augmentation des disparités de revenu, ce principe ne risque-t-il pas de jeter dans l’exclusion écologique un part très importante de la population mondiale ? Je montre par une approche théorique et empirique que, dans le cas de ressources limitées sans substitut, les « outils économiques » sont neutres quant à la diminution de l’utilisation des ressources. Seule une norme permet de réduire la consommation de ressources critiques. Par contre, ils opèrent une redistribution des ressources, des plus pauvres vers les plus riches. Ils sont donc inéquitables. Seule une redistribution raisonnée (« droit inaliénable ») peut assurer la justice environnementale.

Abstract
Capital is defined mathematically as the abstract meaning brought to life in the two phases of the development of 'transferable representations,' which are the legal, financial, and scientific instruments we take for granted in almost every aspect of our daily routines. The first, conceptual and gestational, and the second, parturitional and maturational, phases in the creation and development of capital are contrasted. Human, social, and natural forms of capital should be brought to life with at least the same amounts of energy and efficiency as have been invested in manufactured and liquid capital, and property. A mathematical law of living capital is stated. Two examples of well-measured human capital are offered. The paper concludes with suggestions for the ways that future research might best capitalize on the mathematical definition of capital.

Artículo de reflexión derivado de investigación documental sobre la educación ambiental, las diferentes corrientes de ésta y la necesidad de una educación ambiental realmente crítica que vaya a las raíces sistémicas de la problemática generado por el sistema capitalista en sus modos de producción y de consumo.

ABSTRACT The purpose of this paper is to address three major shortcomings of Sen’s capability approach with regard to sustainability: (i) First, the weakness of the ecological dimension of the capability framework. This can be overcome by devising a place where it is possible to relate the intrinsic and instrumental values of Nature; (ii) Second, the issue of responsibility, which is only considered from a consequentialist viewpoint by Sen (i.e. ex-post responsibility). Such a restrictive view can be extended by adding the exante dimension of responsibility; (iii) Third, the relationship between the individual and collective levels. This can be overcome by introducing the idea of collective agency. Overcoming these limitations makes it possible to fully integrate the ecological dimension into an extended vision of the capability approach which makes it consistent with strong sustainability, and which leads to a new definition of the agent as a responsible person acting so as to generate sustainable human development

Corporate activities are polluting the environment, degrading bio-systems, reducing biodiversity, over-exploiting natural capital, contributing to global warming, accelerating climate change and damaging the life prospects of future generations. Areas that directors and boards need to urgently consider include recognising the negative impacts of human activity, widening perspectives to include value chains and networks of relationships, understanding environment and climate change risks and switching focus from responding to events and developments to also taking proactive steps to reduce and/or prevent them. Suggested actions include reviewing corporate purpose, questioning objectives, engaging stakeholders, ensuring responsible and sustainable applications of technology, confronting obstacles to change and securing wider involvement and support. Openness, transparency and fair reporting are required in respect of damaging activities that need to be reduced or discontinued. Measures of performance, business cases and justifications for action should take account of negative impacts and externalities such as costs imposed on others, or the loss of natural capital or biodiversity. Redefining business and economic success and determined action could galvanise concerned stakeholders and give them a new sense of meaning and purpose.

This paper discuss about the influx policy that should be taken by the government. Project-induced-in-migration (or influx) is the movement of people from area outside project-impacted zone to the project-impacted zone. The aim of it is to find economic opportunities and improving quality of their life. Aldi et al. (2013) stated that the influx has many negative effects especially for the social and environmental aspects in the mining project areas and its surrounding.

The three main negative effect that are materialized, (i) The increasing of crime rate; (ii) the marginalization of indigenous people by the immigrant communities; and (iii) the decreasing of public health quality since the mining operation. Three important actors in development, which are the government as policy makers, the companies as capital modals, and society as the object who affected both directly or indirectly; each of them has their own role play and perception of influx. They also have own solution to cope with the impact of influx in the project areas. Their role, influence and relation will be reviewed and analyzed with the concept of sustainable livelihood framework.

There are five capitals within concept of livelihood assets, which are, (1) Human capital; (2) social capital; (3) natural capital; (4) physical capital; and (5) financial capital. By taking the study cases from Weda Bay Nickel in Eastern Indonesia, this paper found that the main development goals for all of the development actors are to achieve sustainable development. Unfortunately, technological development in the mining enterprise is leading discrimination and huge gap between immigrant workers and local communities in managing and accessing their assets. The government as a policy maker tends to prioritize the companies as the capital modals.

Therefore the process in achieving the sustainable development goals was blurred. Based on the sustainable livelihood approaches, this paper discuss about how do the local communities strengthen their potential aspects to reduce the negative impacts of influx. They also need to compromise in how to focus on their potential assets and cover the underperformance from the other stakeholders. It expected to provide a new integrated approach for influx-migration policymakers, especially in mining industry areas

We introduce and discuss the multi-faceted concept of Soil Security. Soil security addresses scientific, economic, social, and policy dimensions of soil and its role in sustainable development. The dimensions are called capability, condition, capital, connectivity and codification. This is a wider concept than currently extant notions such as soil quality and health.

Measurement quality is a fundamental factor in determining the cost of transactions within organizations and markets. A huge gulf separates the meaningfulness and precision of business metrics as currently achieved from the quality that has been routinely obtained for decades in research and in limited commercial applications. The transformation of ordinal, instrument-dependent, and nonlinear test, survey, and assessment scores into interval, invariant, and linear measures stands as a major technical achievement of the last 80 years. Unfortunately, few in business or economics are aware of these advances or their implications for the efficiencies of markets for intangible assets. This essay links the state of the art in measurement theory and practice to recent work (a) integrating human, social, and natural capital into a comprehensive economic framework, (b) presenting the pursuit of perfection as the ideal of lean production, (c) on the ethics of transparent representation, and (d) describing the co-production of social orders across scientific, economic, and political domains. The essay concludes with a brief listing of the advantages of improved measurement, how they might contribute to the establishment of an Intangible Assets Metric System, and the need to harness the energy of the profit motive as the driver for the re-invention of capitalism as a system that rewards value for life.