The services of ecological systems and the natural capital stocks that produce them are critical to the functioning of the Earth's life-support system. They contribute to human welfare, both directly and indirectly, and therefore represent part of the total economic value of the planet. We have estimated the current economic value of 17 ecosystem services for 16 biomes, based on published studies and a few original calculations. For the entire biosphere, the value is estimated to be in the range of (...) US$16-54 trillion per year, with an average of US$33 trillion per year. Because of the nature of the uncertainties, this must be considered a minimum estimate. Global gross national product total is around US$18 trillion per year. (shrink)

This article furthers the argument for a stakeholder theory that integrates into managerial decision-making the relationship between business organizations and the natural environment. The authors review the literature on stakeholder theory and the debate over whom or what should count as a stakeholder. The authors also critique and expand the stakeholder identification and salience model developed by Mitchell and Wood (1997) by reconceptualizing the stakeholder attributes of power, legitimacy, and urgency, as well as by developing a fourth stakeholder attribute: proximity. (...) In this way, the authors provide a stronger basis for arguing for the salience of the natural environment as the primary and primordial stakeholder of the firm. (shrink)

Natural scientists have proposed that humankind has entered a new geologic epoch. Termed the “Anthropocene,” this new reality revolves around the central role of human activity in multiple Earth ecosystems. That challenge requires a rethinking of social science explanations of organization and environment relationships. In this article, we discuss the need to politicize institutional theory as a means understanding “Anthropocene Society,” and in turn what that resultant society means for the Anthropocene in the natural environment. We modify the constitutive elements (...) of institutional orders and a set of main change mechanisms to explore three scenarios around which future Anthropocene Societies might be built—Collapsing Systems, Market Rules, and Cultural Re-Enlightenment. Simultaneously, we use observations from the Anthropocene to expose limitations in present institutional theory and propose extensions to remedy them. Overall, this article challenges organizational scholars to consider a new paradigm under which research in environmental sustainability and social sustainability takes place. (shrink)