Intrinsic logic and theoretical construction of natural capital accounting and the value realization mechanism of ecological products
As the global sustainable development agenda gains momentum,Natural as the global sustainable development agenda gains momentum,NCA has emerged as a has emerged as a pivotal tool for assessing the value of natural resources and the ecosystem services they provide.It plays a crucial role in aiding nations to promote green development and ecological civilization.This paper provides a comprehensive review of the theoretical foundations and practical applications of NCA,with a particular focus on its relationship to the value realization of ecological products.The study outlines the evolution of NCA both internationally and within China,demonstrating how it has progressed from an early exploratory phase to becoming a standardized and policy-driven instrument.This transition underscores NCA's critical function in harmonizing ecological protection with economic growth.The development of NCA highlights its significance in resolving the trade-off between economic development and environmental conservation.Currently,NCA not only facilitates the measurement of ecological assets but also informs policies aimed at sustainable resource management.The paper emphasizes that NCA's role has expanded to support the implementation of key environmental initiatives,such as China's"Two Mountains"theory.This theory advocates for converting ecological wealth into economic wealth by transforming"green mountains and clear waters"into"golden mountains and silver mountains".Drawing on international experiences and aligning with China's ecological civilization framework,this paper constructs a natural capital accounting framework tailored to China's specific circumstances.The proposed framework distinguishes between the private and public values of natural resources,enabling more precise accounting of their contributions to both market and non-market values.The paper suggests that mechanisms such as property rights exchanges,market transactions,and ecological compensation should be utilized to facilitate the transformation of natural assets into natural capital.This transformation enables the monetization and marketization of ecological products.The study underscores that NCA provides a scientific basis for quantifying the value of ecological products and integrating them into market systems.This framework not only strengthens the economic case for environmental protection but also promotes the dual goals of ecological preservation and economic growth.Specifically,NCA can play a critical role in guiding resource management decisions and local policy implementations,offering a balanced approach to development and conservation at both local and national levels.Looking ahead,NCA should be further optimized to enhance the accuracy of valuation methods and its application in policy and resource management contexts.The paper also highlights the need for innovation in green finance and carbon market mechanisms,which could drive the capitalization and commercialization of ecological products.By leveraging these financial tools,NCA can foster new economic opportunities while ensuring the sustainable use of natural resources.In conclusion,China should actively participate in shaping international NCA standards,contributing its experience and practices to the global effort toward sustainable development.As natural capital accounting continues to evolve,it holds significant potential to impact both global and national strategies for balancing economic growth with environmental stewardship.The application of NCA will not only support the sustainable management of natural resources but also pave the way for greater alignment between ecological protection and economic prosperity.
natural capitalnatural capital accountingecological productsvalue realization of ecological productsintrinsic logic"Two Mountains"theory
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