Author(s)

J L Miralles i García & F Gaja i Díaz

Abstract

When we talk about city sustainability, we consider two fundamental aspects: urban development sustainability (and the sustainability of the city already developed or urban activity sustainability. Urban development means the irreversible transformation of natural or rural land into urban land. This process can imply the destruction of natural resources and the increment of ecological footprint when population grows. (In the other hand, although there is plenty environment preservation legislation, due to the fact that our democratically elected political representatives have inevitably such short legislative periods they tend to focus on short term interests instead of on general sustainability interests which are medium-term, long-term or intergenerational. In order to overcome this difficulty, the idea of progressively constituting a Natural Capital Patrimony managed by an institution, independent from political power is suggested. Such is the case of Central currency issuer Banks in Europe and in the U.S.A. The identification and declaration of the patrimony to be managed by this Natural Capital Bank would be progressive and promoted from Government and legislative institutions and from society itself. Nevertheless, removing those natural resources, part of this Bank patrimony, would require the consent of such institution.

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