1. The stock is the present accumulated quantity of natural capital. It is a supply accumulated for future use; a store. The natural income is any sustainable yield or rate of harvest from the stocks. Natural capital is the term used for ‘natural resources’ which can be exploited to produce natural income of goods and services. e.g. trees as timber that can be harvested and sold for money. NATURAL CAPITAL and INCOME

2. 3 categories of Natural Capital Renewable - living species and ecosystems which can be replaced by natural productivity (photosynthesis!) as fast as they are used (e.g. food crops, timber). Replenishable - non-living resources which are can be continuously restored by natural processes as fast as they are used (e.g stratospheric ozone layer, groundwater).

3. Non-renewable - Resources which cannot be replenished at the same rate at which they were used.  Any use of these resources implies depletion of the stock.  e.g. fossil fuels, minerals.  If these resources are being depleted we must:  1) improve efficiency of use 2) develop substitutes 3) recycle/reuse

4. Values of Natural Capital: Economic value: can be determined from the market price of the goods and services it produces. Ecological value: have no formal market price. Photosynthesis, nitrogen- fixation, soil erosion control are essential for human existence, but are taken for granted.

5. ECONOMIC vs ECOLOGICAL VALUE OF FORESTS ECONOMIC VALUE 1.Fuel Wood 2.Lumber 3.Mining 4.Livestock Grazing 5.Recreation 6.Jobs ECOLOGICAL VALUE 1.Energy and Chemical Cycling 2.Reduce Soil Erosion 3.Purify Water 4.Influence Climate 5.Store Atmospheric Carbon 6.Wildlife Habitat/Diversity

6. Advantages and Disadvantages of Clear Cutting ADVANTAGES 1.Higher Timber Yields 2.Max. profits in least amount of time 3.Can reforest with tree of choice 4.Good for species that need more light DISADVANTAGES 1.Reduces biodiversity 2.Destroys/ Fragments habitat 3.Increases erosion/flooding 4.Eliminates Recreational value

7. Sustainable Forestry 1.Identify and protect areas of high biodiversity (Hot Spots) 2.Rely more on selective cutting 3.Don’t clear cut on steep slopes 4.Don’t log old growth forests 5.Reduce road building in uncut forests areas 6.Leave dead and fallen trees for wildlife 7.Plant tree plantations on already deforested areas. 8.Certify timber grown by sustainable methods 9.Take Ecological value into account when making forestry decisions.

8. Land Management Public Land -Owned by the Government -338 million Hectares = 835 mil. Acres Private Land - All land owned by individuals and companies.

10. National Park Service

11. Fish and Wildlife Service National Wildlife Refuges

12. Bureau of Land Management National Resource Land

13. U.S. Forest Service National Forest