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Ecosystem valuation is an economic process which assigns a value (either monetary, biophysical, or other) to an ecosystem and/or its ecosystem services.By quantifying, for example, the human welfare benefits of a forest to reduce flooding and erosion while sequestering carbon, providing habitat for endangered species, and absorbing harmful chemicals, such monetization ideally provides a tool ...
An example for water purification as an ecosystem service is as follows: In New York City, where the quality of drinking water had fallen below standards required by the U.S. Environmental Protection Agency (EPA), authorities opted to restore the polluted Catskill Watershed that had previously provided the city with the ecosystem service of ...
Environmental accounting is a subset of accounting proper, its target being to incorporate both economic and environmental information. It can be conducted at the corporate level or at the level of a national economy through the System of Integrated Environmental and Economic Accounting, a satellite system to the National Accounts of Countries (among other things, the National Accounts produce ...
The triple bottom line (or otherwise noted as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and economic. Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value. [1]
Weak sustainability is an idea based upon the work of Nobel laureate Robert Solow, [4][5][6] and John Hartwick. [7][8][9] which states that ' human capital ' can substitute ' natural capital '. The weak sustainability paradigm stems from the 1970s. It began as an extension of the neoclassical theory of economic growth, accounting for non ...
The term in software analysis. In the context of software analysis, the term software ecosystem is defined by Lungu [6] as “a collection of software projects, which are developed and co-evolve in the same environment”. The environment can be organizational (a company), social (an open-source community), or technical (the Ruby ecosystem).
Environmental economics is a sub-field of economics concerned with environmental issues. [1] It has become a widely studied subject due to growing environmental concerns in the twenty-first century. Environmental economics "undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the ...
Ecological footprint. The ecological footprint measures human demand on natural capital, i.e. the quantity of nature it takes to support people and their economies. [1][2][3] It tracks human demand on nature through an ecological accounting system. The accounts contrast the biologically productive area people use to satisfy their consumption to ...