自然资本流变及其对生态系统服务价值的演变路径

生态系统服务价值化是将生态系统惠益于人类社会的价值进行量化，以评估生态系统服务状态，便于生态系统监测和管理。自然资本是生态系统服务的来源，结合自然资本视角进行生态系统服务价值化，其成果有利于提高生态系统保护政策制定的精准性和统筹力，有利于创新生态系统服务评估方法。通过梳理自然资本概念的缘起与发展过程，认为自然资本经历了"同义指代"、"边界明晰"、"多领域交汇"和"隐喻多义"四个阶段逐步丰富的过程。当今针对自然资本研究的三种主流视角，即将自然资本视为"产生经济价值的资产"、"产生服务流的存量"和"金融资本"为生态系统服务的价值化提供了多种途径。生态系统服务价值化的过程要体现可持续发展的基本目标，保证自然资本的稳定，维持人类社会代际公平。以此为前提，鼓励生态系统价值化视角的多样性。价值化途径应关注生态系统服务的时空动态变化、多种服务协同作用和供需权衡。生态系统服务价值化是自然资本金融杠杆化的推手，应警惕有可能带来的金融风险和生态风险。

The evolutionary pathway of natural capital and its valuation of ecosystem services

The valuation of ecosystem services is to quantify the value of ecosystem benefits to human society to evaluate the status of ecosystem services and contribute to ecosystem monitoring and management. Natural capital is the source of ecosystem services. The valuation of ecosystem services from the perspective of natural capital is conducive for improving the accuracy and coordination of ecosystem protection policies, as well as the innovation of ecosystem service assessment methods. By analyzing the origin and development of natural capital, it was concluded that this concept has experienced gradual enrichment in four stages: "synonymy", "clear boundary", "multi-domain intersection", and "metaphorical polysemy". Currently, there are three mainstream perspectives of natural capital research, namely, "assets that generate economic value," "stocks that generate service flows," and "financial capital," which provide multiple approaches for the valuation of ecosystem services. The valuation of ecosystem services should reflect the basic goal of sustainable development, which is to ensure the equity between generations by maintaining the stability of natural capital. Based on this principle, the diversity of ecosystem valuation perspective is encouraged. The valuation approach should pay attention to the spatiotemporal dynamic change of ecosystem services, the synergy of multiple services, and the balance between supply and demand. Ecosystem service valuation is the driving force of the leverage ability of natural capital and the possible financial and ecological risks should be taken into consideration.