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45th TB Macaulay Lecture: Valuing nature for transformation: innovations in policy, finance and practice around the world

The 45th TB Macaulay Lecture was held on 10th September at the Edinburgh International Conference Centre (EICC).

View this year's lecture presented by Professor Gretchen C. Daily here.

Lecture Abstract: 

Environmentalists joined with academia and politicians to explore a future where our nature is viewed and valued as an asset.

World-renowned environmental scientist Professor Gretchen C. Daily laid out her vision for a world at one with nature at the 45th annual TB Macaulay lecture held in Edinburgh on Tuesday night (10th September 2024).

Audience members left Edinburgh’s International Conference Centre with a renewed sense of optimism following the talk, as Professor Daily shared examples of where the investment in nature and the preservation of natural capital in practice has had positive outcomes for global communities.

From China’s shift away from the industrial revolution towards an ecological civilisation, to hyperlocal stewards in Costa Rica protecting their immediate environmental surroundings, the scientist proved that positive actions come in all sizes.

The environmentalist opened her lecture by contextualising the global, but decentralised, framework that is required for a shift towards valuing our ecosystems as natural assets to be successful – highlighting that there are many paths, with no golden bullet.

She said: “There isn’t any one way – but different paths that we need to follow concurrently. At one level we need to develop an approach that can work globally and can help halt and reverse tropical deforestation in a beautiful landscape such as Costa Rica. But at the same time, it has to work very locally, for local people and communities – with win-win outcomes.

“Similarly, on the one hand we are addressing the emergency – confronting our economic system on its own terms and financialising aspects of nature that we might feel uncomfortable quantifying in economic terms. But at the same time, we need to promote a  long-term, much deeper shift in our cultures – we need to drive a deeper awakening with how interdependent we are with nature.”

Professor Daily highlighted how in all walks of life, the restoration of nature can improve our lives be that protection from natural disaster, to our own health and wellbeing. She added: “Whether living in destitution or among the very rich, we are all completely dependent on nature and we will have a profound effect on the future. It’s all about changing the course of history – remembering how special our home is and how we really need to help, in any way we can, move along this new dawn.”

Joe Moore, Chair of the Macaulay Development Trust said: “Tonight was a huge success with a fantastic speaker that upheld the reputation of the lecture. What I heard from Gretchen was almost the opposite of what you hear when you get into the climate science of carbon levels and greenhouse gasses.

“There’s almost a private appraisal moment of ‘we’re doomed’. What we heard tonight was an upbeat, positive message that not only says we can adapt and mitigate, but we can improve.

“Some of the measures that she presented were amazing, and they are backed not by opinion, but by fact – and I came out of tonight extremely positive. I think there are some real sparks flying around this topic and Gretchen made it happen in a very different way  to past lectures, but in a style that really resonated with so many.”

Professor Colin Campbell, Chief Executive of The James Hutton Institute added:

“Gretchen’s lecture reminds us all about the magnificence of the natural world, the great peril it is facing but also how we can facilitate its recovery for our mutual benefit. It reminds us that our civilisation depends on our natural capital and we cannot expend it anymore but need to grow it to reap the benefits.”

Watch the full lecture below:

 

Speaker Details

Professor Gretchen C. Daily

Professor Gretchen C. Daily is the co-founder and Faculty Director of the Stanford Natural Capital Project, Bing Professor of Environmental Science; Senior Fellow in the Woods Institute; and Director of the Center for Conservation Biology at Stanford University.

She is a fellow of the U.S. National Academy of Sciences, the American Academy of Arts, and Sciences and the American Philosophical Society. She has received numerous international honors including the Tyler Prize for Environmental Achievement (2020), BBVA Frontiers of Knowledge Award (2019), Blue Planet Prize (2017), Volvo Environment Prize (2012), Midori Prize for Biodiversity (2010), and the International Cosmos Prize (2009).

Location

Edinburgh International Conference Centre
150 Morrison Street
EH3 8EE Edinburgh
United Kingdom
GB

About the Lecture

Dr Thomas Bassett MacaulayThe annual T.B. Macaulay Lecture is held to honour the vision of Dr Thomas Bassett Macaulay, President and Chairman of the Sun Life Assurance Company of Canada, whose benefaction founded the original Macaulay Institute for Soil Research in 1930. He was a descendant of the Macaulays from the Island of Lewis and his aim was to improve the productivity of Scottish agriculture. This vision continues today in its successor the James Hutton Institute, a world leader in land, crop, water, environmental and socio-economic science.