Natural capital is everything nature provides us for free. It comprises renewables and non-renewables. Renewables carry on providing value for ever, as long as thresholds are not crossed, whereas non-renewables can only be used once. Natural capital policy requires compensation for damage, pollution taxes and the economic rents from depleting non-renewables to be deployed for a major restoration programme, underpinning sustainable economic growth. The seminar sets out the aggregate natural capital rules, the identification of assets-at-risk and how to protect the natural environment in the face of major population growth and infrastructure developments.

The talk is based on Prof Helm’s most recent book – Natural Capital: Valuing the planet – published in May 2015.

Dieter Helm is an economist specialising in utilities, infrastructure, regulation and the environment, and concentrating on the energy, water, communications and transport sectors primarily in Britain and Europe. He is a Professor at the University of Oxford a Fellow of New College, Oxford, and a Professorial Research Fellow of the Smith School of Enterprise and the Environment.