Long-term challenges and opportunities in the natural resource sector

Abstract

New Zealand’s cultural, social and economic prospects are inextricably intertwined with the health and sustenance of our natural capital. New Zealand is wealthy in natural resources. We have plentiful, clean water; clean air; fertile soil and a climate well suited to humans, trees, livestock and agriculture; long coastlines and significant aquaculture resources; significant mineral and petroleum reserves; and extraordinary biodiversity on our land and in our water bodies. The World Bank estimates that New Zealand ranks eighth out of 120 countries and second out of OECD countries in natural capital per capita; we are outranked only by petroleum exporting countries (World Bank, 2011). While it is still substantial, natural capital in New Zealand has been reduced since the arrival of humans, however, including losses to our lowland forest and reductions in native biodiversity.