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Sustainable yield is the amount of a resource that humans can harvest without over-harvesting or damaging a potentially renewable resource. [1]In more formal terms, the sustainable yield of natural capital is the ecological yield that can be extracted without reducing the base of capital itself, i.e. the surplus required to maintain ecosystem services at the same or increasing level over time. [2]
A coal mine in Wyoming, United States. Coal, produced over millions of years, is a finite and non-renewable resource on a human time scale.. A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a pace quick enough to keep up with consumption. [1]
In resource economics, Hartwick's rule defines the amount of investment in produced capital (buildings, roads, knowledge stocks, etc.) that is needed to exactly offset declining stocks of non-renewable resources. This investment is undertaken so that the standard of living does not fall as society moves into the indefinite future.
Important operational principles of sustainable development were published by Herman Daly in 1990: renewable resources should provide a sustainable yield (the rate of harvest should not exceed the rate of regeneration); for non-renewable resources there should be equivalent development of renewable substitutes; waste generation should not ...
Energy storage helps overcome barriers to intermittent renewable energy and is an important aspect of a sustainable energy system. [154] The most commonly used and available storage method is pumped-storage hydroelectricity , which requires locations with large differences in height and access to water. [ 154 ]
Another non-renewable resource humans exploit is subsoil minerals, such as precious metals, mainly used to produce industrial commodities. Intensive agriculture is an example of a mode of production that hinders many aspects of the natural environment , for example the degradation of forests in a terrestrial ecosystem and water pollution in an ...
Norge Mining said up to 70 billion tonnes of the non-renewable resource may have been uncovered in south-western Norway, alongside deposits of other strategic minerals like titanium and vanadium ...
Hotelling's rule defines the net price path as a function of time while maximizing economic rent in the time of fully extracting a non-renewable natural resource.The maximum rent is also known as Hotelling rent or scarcity rent and is the maximum rent that could be obtained while emptying the stock resource.