HISTORICAL AND ECONOMIC INTERPRETATION OF NATURAL CAPITAL
DOI:
https://doi.org/10.37547/ijmef/Volume04Issue05-05Keywords:
Natural capital, sustainable development, Kyoto ProtocolAbstract
Natural capital can also be referred to as the scope of economic development opportunities. The depletion of resources usually increases the number of ways to overcome an economic crisis. Ensuring economic growth is not an obstacle to the development of a green economy, but failure to take into account damage to economic natural capital leads to poor economic decisions. Since the value of natural capital does not actually exist, in a narrow sense only the functions of providing natural resources are assessed. This leads to neglect of many functions of natural capital and on this basis causes the emergence of global environmental problems. This article examines historical and economic approaches based on the recognition of natural factors of production in revealing the capital nature of natural resources.
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