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Nature's Fortune: How Business and Society Thrive By Investing in Nature Paperback – August 6, 2015
| Mark R. Tercek (Author) Find all the books, read about the author, and more. See search results for this author |
| Jonathan S. Adams (Author) Find all the books, read about the author, and more. See search results for this author |
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What is nature worth? The answer to this question—which traditionally has been framed in environmental terms—is revolutionizing the way we do business.
In Nature’s Fortune, Mark Tercek, CEO of The Nature Conservancy and former investment banker, and science writer Jonathan Adams argue that nature is not only the foundation of human well-being, but also the smartest commercial investment any business or government can make. The forests, floodplains, and oyster reefs often seen simply as raw materials or as obstacles to be cleared in the name of progress are, in fact as important to our future prosperity as technology or law or business innovation.
Who invests in nature, and why? What rates of return can it produce? When is protecting nature a good investment? With stories from the South Pacific to the California coast, from the Andes to the Gulf of Mexico and even to New York City, Nature’s Fortune shows how viewing nature as green infrastructure allows for breakthroughs not only in conservation—protecting water supplies; enhancing the health of fisheries; making cities more sustainable, livable, and safe; and dealing with unavoidable climate change—but in economic progress, as well. Organizations obviously depend on the environment for key resources—water, trees, and land. But they can also reap substantial commercial benefits in the form of risk mitigation, cost reduction, new investment opportunities, and the protection of assets. Once leaders learn how to account for nature in financial terms, they can incorporate that value into the organization’s decisions and activities, just as habitually as they consider cost, revenue, and ROI.
A must-read for business leaders, CEOs, investors, and environmentalists alike, Nature’s Fortune offers an essential guide to the world’s economic—and environmental—well-being.
- Print length280 pages
- LanguageEnglish
- PublisherIsland Press
- Publication dateAugust 6, 2015
- Dimensions5.25 x 0.8 x 8.5 inches
- ISBN-101610916956
- ISBN-13978-1610916950
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Editorial Reviews
About the Author
Mark R. Tercek is president and CEO of The Nature Conservancy, which he joined in 2008. Tercek was previously a managing director and Partner at Goldman Sachs, where he ultimately led the firm's environmental strategy. He lives in Washington, DC.
Jonathan S. Adams is a science writer and conservation biologist. The author of The Myth of Wild Africa, The Future of the Wild, and coeditor of Precious Heritage, he lives in Rockville, Maryland.
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Product details
- Publisher : Island Press; Reprint edition (August 6, 2015)
- Language : English
- Paperback : 280 pages
- ISBN-10 : 1610916956
- ISBN-13 : 978-1610916950
- Item Weight : 11.2 ounces
- Dimensions : 5.25 x 0.8 x 8.5 inches
- Best Sellers Rank: #1,934,018 in Books (See Top 100 in Books)
- #626 in Green Business (Books)
- #1,440 in Sustainable Business Development
- #2,341 in Natural Resources (Books)
- Customer Reviews:
About the authors

Mark Tercek is president and CEO of The Nature Conservancy, the global conservation organization known for its intense focus on collaboration and getting things done for the benefit of people and nature. He is the author of the Washington Post and Publisher's Weekly bestselling book Nature's Fortune: How Business and Society Thrive by Investing in Nature.
Growing up as a city kid in Cleveland, Mark was a late-bloomer to conservation. It was becoming a parent that sparked his passion for nature. "I want to be able to look my kids in the eye," he says, "and tell them I did all I could to leave the world a better place."
A former managing director and Partner for Goldman Sachs, where he spent 24 years, Mark brings deep business experience to his role leading the Conservancy, which he joined in 2008. He is a champion of the idea of natural capital -- valuing nature for its own sake as well as for the services it provides for people, such as clean air and water, productive soils and a stable climate.
During his time at Goldman Sachs, Mark managed several of the firm's key units, including Corporate Finance, Equity Capital Markets and Pine Street, the firm's leadership development program. In 2005, after two decades as an investment banker, Mark was tapped to develop the firm's environmental strategy and to lead its Environmental Markets Group.
Inspired by the opportunity to help businesses, governments and environmental organizations work together in new, innovative ways, Mark left Goldman Sachs in 2008 to head up The Nature Conservancy.
In 2012, Mark appointed by New York Governor Andrew Cuomo to serve on the New York State 2100 Commission, which was created in the wake of Superstorm Sandy to advise the governor and the state on how to make the state's infrastructure more resilient to future storms. Mark is also a member of several boards and councils, including Resources for the Future and the Nicholas Institute for Environmental Policy Solutions. He is also a member of the Council on Foreign Relations. Mark earned an M.B.A. from Harvard in 1984 and a B.A. from Williams College in 1979.
Visit http://www.marktercek.com

Jonathan Adams has spent more than two decades writing about the science and practice of conservation. A science writer and conservation biologist, he often writes as an insider with an outsider's perspective. He is the author most recently, with Mark Tercek, of "Nature's Fortune: How Business and Society Thrive By Investing in Nature" published by Basic Books in 2013. He is also the author of "The Future of the Wild: Radical Conservation for a Crowded World" published by Beacon Press in 2004, about which Library Journal wrote (in a starred review): "Visionary, optimistic, doable, and essential, Adam's approach is a pioneering 'guidebook to nature."
Jonathan was co-editor of "Precious Heritage: The Status of Biodiversity in the United States", published by Oxford University Press in 2000 and he is the co-author, with Thomas McShane, of "The Myth of Wild Africa: Conservation Without Illusion." W. W. Norton published Myth of Wild Africa in 1992, and the paperback edition published by University of California Press continues to sell after more than a decade in print. Writing in the New York Times Book Review, Robert S. O. Harding said about the book, "The authors make the complexity of the continent, its ecosystems and its political problems abundantly clear."
Jonathan received an MS in Conservation Biology and Sustainable Development from the University of Maryland, an MA in Writing About Science from Johns Hopkins University, and a BA from Columbia University.
Visit him online at www.pangolinwords.com
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But persons evolve. And as he became more comfortable at The Nature Conservancy, Tercek saw more clearly than ever that "..nature means all species of animals and plants, their habitats and the ecological processes that support them."
What I like about Tercek's approach is that he tries to incorporate business as a partner in conservation. He is an advocate for strong and effective government policy but he is a champion of trying to persuade businesses to voluntarily embark on environmental initiatives. He admits that he is not sure if working with businesses will produce environmental benefits but believes that one has no choice but to try. Given the dominant global role of business it id difficult to argue with that position.
The book is easy to read and has separate chapters on different environmental issues. Take de-forestation. Soy beans from the Amazon rainforest traveled to Liverpool, became chicken feed and then nuggets sold by McDonald's. The activist Greenpeace sent its boat to block the shipping terminal, protestors in chicken suits tied themselves to chair in McDonald's outlets and posters went up showing Ronald McDonald carrying a chainsaw. McDonald's capitulated, joined forces with Greenpeace and pressured the giant agribusiness Cargill to step up its conservation efforts.
Is this a tale of victory of the righteous? Or is it a tale of a malefactor getting away with a token surrender to public outrage? Probably both. But undoubtedly the change did at least lessen the pace of destruction of the rainforest.
Tercek is a believer in market principles such as implementation of a carbon tax to reduce emissions. But he also needs to cover the possibility of "perverse incentives" actually undermining the stated objectives. Thus, for example, an attempt to buy Freon from old refrigerators etc. to take it out of circulation resulted in pirate operations that manufactured it so that they could be sold to the government at a profit.
Over all this is a book that will give you a better grasp of the environmental challenges we face and what major players are doing about this.
Certainly worth reading.
Mr. Tercek came from the investment firm of Goldman Sachs, after obtaining an MBA from Harvard. Hardly the resume for an environmentalist. But he brings a great deal of practical business savvy to the job and to the organization. He sees TNC as the ideal organization to champion the idea of “natural capital”– recognizing and actually trying to put a value on nature as an asset. This at first seems self evident- “natural” products such as timber, iron, fish, and crops are bought and sold every day. But he sees the need to attach value to the ecosystems that supply such resources.
The book stresses water as a precious, yet essentially undervalued asset in a capital sense. Indeed, as he points out, we rarely pay for water, we pay for the delivery systems to get it to us in a form that we can use. We all take for granted the fact that we can turn on a tap and get fresh, clean water. But how does that water come to be? It requires watersheds, streams, rivers, forests, and a complex ecological system that in essence produces it. We just capture it, and, more often than not, clean it after capture, if necessary, by vast “grey infrastructure”–water treatment plants, etc. But what of the value of the source? He uses New York city as an object lesson in valuing the ecosystem.
NYC, surprisingly to me, has some of the least treated water in the country. City planners, back in the 19th century, set up the infrastructure to bring water to the city from the Catskills. That watershed supplied the city for generations, but, in the latter part of the 20th century, the water began to be below standards set by the EPA. The city planned to spend over $8billion to build a huge treatment plant, which would of course have additional costs of operation, maintenance and repair. Instead of this “grey infrastructure”, the city chose to invest in preserving the Catskill watershed. The area had seen farmers selling land to developers, and more of the land going from its natural state to the concrete and asphalt that removes the cleansing effects of the natural environment. The city bought some of this land, or otherwise gave financial incentives to property owners to preserve it. It made a large investment in “green infrastructure” to maintain a clean supply of drinking water. But this “large investment” was $1.5billion as opposed to the $8+ billion for more grey infrastructure. This alternative appears to be working, and not only saves the city money, but insures clean water for the future, and, as a by product, preserves a beautiful part of the state.
These are the types of “bottom line” environmental solutions that TNC seeks to explore and develop. Such exploration and development must include business, local communities, environmental groups and governments. The author stresses the need for all to work cooperatively, and points out the need to bridge the current divide between environmental groups and both business and local communities. He also points out, at least as I interpret the book, the importance, perhaps the necessity, of government involvement because governments are the only entities that can bring the legal and financial firepower necessary to accomplish many environmental goals. But he also emphasizes that governments can not “go it alone”– business and individuals must be converted to conservation by demonstrating that it is necessary for their practical welfare. Indeed, large corporations, with all of their financial and political power, must be enlisted as environmental allies. Saving the environment can not be an elitist effort to preserve some small spectacular places, but rather an ongoing attempt to unite all communities in an appreciation of the value of our natural capital.
The book has countless examples of successful cooperative efforts that resulted in true “win-win” situations that benefited business, government, local communities, and the environment. The approach that is suggested is practical and inclusive. It may well be of extreme importance in our own country where politics and politicians ignore the truth and show no capacity to accomplish anything of long term benefit. The book, although perhaps filled with too many similar examples, is not only an interesting, but an essential read.



