Using the natural capital framework to integrate biodiversity into sustainable, efficient and equitable environmental-economic decision-making

Abstract

One of Georgina Mace's many transformational research contributions was to provide a universally applicable framework for incorporating any or all elements and connections of the natural environment within conventional economic decision-making. We apply this natural capital framework to consider the overall effects of a suite of land-use policy options intended to promote the conservation and renewal of biodiversity. Options considered include sharing, sparing, three-compartment sparing, rewilding and organic farming regimes. Each is assessed in terms of its impact on both domestic and global biodiversity. Reinforced by an empirical application considering land use in Great Britain, we show that while policy has prioritized sharing options, evidence supports land sparing and three-compartment approaches as more efficient, sustainable and equitable alternatives. This article is part of the discussion meeting issue 'Bending the curve towards nature recovery: building on Georgina Mace's legacy for a biodiverse future'.