Human economies are made possible through natural capital – stocks of land, fresh water, oceans, biodiversity and soils, among others. Farming isn’t possible without soil or water. Manufacturing isn’t possible without raw materials to convert into products. Service industries aren’t possible without reliable food.
This may seem like stating the obvious. But what’s obvious isn’t always acted upon. At last week’s high-profile Economic Reform Roundtable, natural capital was conspicuously absent. At the table were bankers, unionists, housing experts and business groups – but only one environmental advocate, former treasury secretary Ken Henry.
