Natural resources are Earth-derived materials utilized to sustain life and satisfy human needs. Any naturally occurring chemical essential to human survival is termed a natural resource. Oil, coal, fossil fuels, stones, and sand are examples of natural resources. Additionally, nature provides air, sunshine, soil, and water.
The importance of natural resources is their utilization of natural resources to produce food, fuel, and raw materials for manufacturing things. All human nourishment originates from either plants or animals. Natural gas, coal, and oil are natural resources that produce heat, light, and energy. Natural resources are also the raw materials used to manufacture everyday items such as toothbrushes, lunchboxes, clothing, automobiles, televisions, computers, and refrigerators.
There are two kinds of natural resources:
- Inexhaustible or Exhaustible Resources: Renewable resources include substances that occur in nature in enormous quantities. These resources are limitless and can be utilized repeatedly, such as water, air, sunlight, etc.
Nonrenewable or non-exhaustible resources are also found in nature, but their supply is restricted. They may stop after continued use, such as natural gas and oil minerals, coal, etc.
The Importance of natural resources for all life on earth.
Earth’s natural resources are crucial for the existence and growth of humanity. The importance of natural resources to human existence is described below:
- They offer oxygen for humans to breathe.
- The land is utilized for agriculture and food production.
- Solar energy is a significant alternative energy source generated by the sun.
- Petroleum and natural gas provide fuel for a variety of industries and vehicles.
- Coal, iron ore, and other minerals are utilized as fuel and steel.
- Valuable materials such as gold and diamonds are used in the jewelry industry and several mechanical devices.
- The forest supplies us with food, lumber, fuel, and shelter for numerous species.
- The use of natural resources facilitates industrialization and urbanization.
- Dams constructed on rivers avoid flooding, irrigation, the growth of the fishing sector, and electricity production.
As natural resources remain important and serve as the foundation for future growth, they must be optimally managed. It may be hard to believe, but a region’s richness and progress are not contingent on the richness of its resources. Instead, the capacity of her inhabitants to exploit and effectively manage her resources.
This is apparent in both emerging and developed nations. Most developing nations, including Nigeria and Congo, are extremely wealthy in natural resources. On the contrary hand, countries like Singapore are deemed to remain natural resource-deficient despite being developed. Moreover, countries, including Saudi Arabia, have evolved successfully due to their natural riches.
Conservation of Natural Resources is Important for
Conservation of natural resources is important for safeguarding and prudent administration of the assets offered by nature. The following are strategies that can be employed to conserve natural resources:
- Reduce, recycle, and reuse. The R3 must always be adhered to.
- We should participate as volunteers in community cleanups.
- There should be no water waste, and rain should be collected for future use.
- The cleanliness of lakes and ponds should be maintained, and digging should occur more frequently.
- Waterways and water reservoirs must be constructed.
- Stopping deforestation is required.
- Natural resources must be utilized more efficiently.
- The public should be made aware of the significance of natural resource conservation.
- Developing alternative energy sources should be a priority.
- The practice of tree planting should be implemented.
- Automobiles and alternative sources of energy should be utilized to combat pollution.
- The conservation of natural resources must be strictly governed by law.
Natural Resources are resources that exist in nature without human intervention and play a crucial role in human existence and development. On Earth, humans rely on these resources to survive. There are two categories of natural resources: renewable and nonrenewable. Men depended directly or indirectly on air, water, soil, and minerals daily. Population growth and overexploitation have put these natural resources at risk of extinction. Consequently, our moral obligation is to conserve natural resources and utilize them for future generations.
10 Importance of Natural Resources
The importance of natural resources cannot be summarized into a few points, but here are the most crucial 10 points if we were to.
- Medicinal Value: In the medical industry, herbs are used either raw or traditional to treat symptoms and diseases, and more than 80 percent of the world’s population relies on herbs for medicine. Vaccines against specific diseases are derived from fungal, bacterial, plant, and viral components. Titanium, a metal in the earth’s crust’s ore deposits, is utilized in prosthetics.
- National Progress: These resources have contributed substantially to the Gross Domestic Product of nations that effectively manage their natural resources. Unfortunately, it’s ironic that the countries with the most significant resources are the least developed. This is because of the high corruption, bribery, and poor administration accompanying resource prosperity. To reduce crime and improve resources in resource-rich nations, Lawson-Remer thinks that cooperation between three groups must be enhanced: capital-exporting nations, international financial institutions, & private companies. The importance of natural resources cannot be overstated, as they have contributed significantly to the development of most of the world’s nations. Furthermore, in some countries, natural resources account for more than 90 percent of their revenue; thus, their significance cannot be overstated.
- The origin of food: People, animals, and plants derive all their nutrition from natural resources. These sources of sustenance include plants, aquatic critters, and other animals. Nature provides all food nutrient groups required by humans. The provision of nourishment is the most valuable aspect of natural resources, as no human, animal, or plant can exist without food.
- Raw material supply for industries: Every industry in the world relies on natural resources to acquire raw materials; a well-known example is the petroleum industry, which obtains essential resources (crude oil) from reservoirs of long-deposited fossils. The manufacturing, construction, power, and food industries also rely on natural resources for production, including hiding and skin; natural fibers; minerals; radiation from the sun; plants, and animals.
- Ecological Services: Ecosystem services are advantages received through nature and the environment and significantly contribute to the value of natural resources within the ecosystem. These activities include supporting services (e.g., hydrology, nutrient cyclicity, soil structure, and photosynthesis); regulating services (e.g., pollination, climate regulation, and water filtration); cultural services (e.g., aesthetics); and providing services (e.g., food production) (e.g., food, water, and shelter). Natural resources aid in the provision of these services. As a natural resource, oceans are a component of the hydrological cycle, which provides ecosystem-sustaining functions.
- Source of energy: Solar energy, air, geothermal heat, liquid, waves, fossil fuels, petroleum, and many more natural resources are used to generate power.
Becoming a source of energy is among the most remarkable contributions of natural resources to the globe; practically all the power utilized by humans is derived from renewable resources and byproducts.
- Serves as the foundation for future scientific research: The availability of natural resources within the environment always inspires and continues to inspire many ardent scientists to pursue further research and create goods that have helped humanity and, occasionally, the entire planet. The importance of natural resources cannot be overstated with all these benefits. This includes petroleum, which scientific research has transformed into a widespread energy source, and cotton, which is, at the moment, the most common raw material for textile manufacture.
- Employment Opportunities: More than 80 percent of the world’s labor force is employed in transforming natural resources from their raw state to their final form. For example, crude exploratory drilling and processing include the following processes: site routing, the revelation of deposits, experiment and drilling, tank construction methods, pipe laying, refinery construction, maintenance, and refining, to name a few. These processes, to name a few, provide millions of jobs worldwide.
- Natural Capital: The phrase ‘natural capital’ was coined by E.F. Schumacher in his 1973 book titled Small Is Beautiful and was further developed by Herman Daly and Robert Costanza, as well as other creators of ecological economics. World Forum on Natural Capital defines natural capital as the global pool of natural resources. They include all living organisms, soils, seas, and air. These are assets that supply us with free resources and vital services. One of the significances of natural resources is their contribution to natural capital.
- Shelter: The supply of shelter is among the most well-known benefits of natural resources; practically all structures existing now could not have been constructed without natural resources, and many systems are built entirely from natural resources. Wood from forests, concrete from stone, sands, gravel, mud, bamboo sticks, and metals from ores are now all produced from the earth’s natural resources and are utilized to construct homes.
Importance of Natural Resource Management
Perhaps the importance of natural resource management is the most ignored one even though it is the most significant one. As people struggle to satisfy their daily requirements for nourishment, shelter, and energy, population growth and a growing preference for agricultural land have placed enormous demands on natural resources throughout the developing world. Numerous governments are under mounting orders from communities and international and local enterprises to utilize natural resources in pursuit of economic expansion. Connecting growth with conservation can offer huge, mutually reinforcing benefits.
Natural resources sustain life and economic systems in fundamental ways. Soils are the cornerstone of agriculture, the basic building block of all people’s livelihoods. Forests safeguard water sources, reduce the damage caused by natural disasters such as flooding and landslides, are home to at least more than 80 percent of the residual terrestrial biodiversity, and serve as a significant greenhouse gas sink that mitigates climate change. More than 1,6 billion people depend on forest lands for their livelihood. Water is required for the subsistence and health of all species, including humans. It is a significant source of inputs for agriculture and numerous industries and a substantial sink for waste discharges.
Trying to promote broad participation, outreach, and accountability as the path to effectively natural resources, our specialists collaborate with local communities and governments to develop and implement the policy and legislative frameworks necessary to devolve the management authority and resource-use entitlements of the forest, fisheries, and biodiversity sectors.
The degradation of natural resources is indeed a result of the ineffective management of these resources. If the importance of natural resource management is further neglected, the depletion of natural resources will significantly impact the economy of developing countries. It poses a direct threat to the quality of life. Even from the standpoint of the timber sector, deforestation is detrimental to economic growth in countries that have mishandled their forest resources. Destruction of forests increases susceptibility to natural disasters. The deterioration of natural resources has a disproportionately negative effect on the poor, who rely significantly on these resources for their subsistence. In addition, their claims for these resources are frequently questionable. Because of their socioeconomic disadvantage, the poor often reside in locations with limited access to clean drinking water and proper sanitary facilities and higher rates of mortality, morbidity, and disease.
In addition, rising temperatures, shifting precipitation patterns, and frequent extreme events are impacting food security, and this trend will continue to intensify. We require structural initiatives that reduce the demand for resources and energy consumption in the first place. In addition to emissions reductions, the most significant factor, we must also dematerialize the systems we rely on. The idea that these systems must be so resource-intensive must be rejected. Addressing the drivers and causes of the triple global crisis would bring answers that concurrently lead to positive advances that simultaneously address all of the difficulties we face. This is an important message of optimism that we can effectively overcome these obstacles if we merely focus on their root causes. For our economy to be sustainable, the economic signals that producers and consumers get must change significantly. This may be altered by valuing nature, including it in financial decision-making, and encouraging sustainable use. By doing so, we would also open up the possibility of new value-creation opportunities that benefit both nature and people. We should also not forget that high-income nations established the existing economic model’s norms and behavior patterns. Thus, we must demonstrate a willingness and capacity to alter the reality we’ve created and lead this same transition effort.
Importance of Water as a Natural Resource
The most important use of water is to make hydroelectric power by harnessing its energy. Compared to other resources used to generate power and energy, water is regarded as renewable and produces the least amount of solid waste. It is inconceivable to perform daily tasks such as washing the dishes or laundry or even going to the restroom without water. The importance of Water as a Natural Resource is significant in every aspect of life at home, water is utilized for numerous purposes, including drinking, cooking, bathing, tooth brushing, washing dishes and vehicles, flushing toilets, watering plants and yards, and filling swimming pools. Most individuals do not give much thought to how much water they consume. Possibly because they do not pay for it every day when they are using it, except when they purchase bottled water, it is reassuring to consider water a renewable resource. Yet, we must also be aware of the consequences of resource overexploitation. As reported by the UNDP, “A region is facing a water crisis when annual water resources per person fall below 1700 m3. There is a water shortage when annual water resources fall below 1000 m3 per person.” By 2025, it is anticipated that most nations in Africa and West Asia will experience acute water scarcity due to rising population and demand.
The importance of Water as a Natural Resource is undeniable hence we need to conserve it. There are numerous residential water conservation methods. Several are more straightforward than others. Even though their flow rates are low, leaky faucets and toilets waste substantial water due to their constant leaking. Modern bathrooms, washers, and dryers use significantly less water than their predecessors, yet replacement is costly. Shower heads that conserve water save a considerable amount and are simple and inexpensive to replace. However, the most effective methods for water conservation may also be the most challenging. Practical and straightforward ways of conserving water include taking “navy showers” (switching off the water while lathering up), avoiding establishing lush lawns in arid regions, and not cleaning cars as frequently.
Importance of Wildlife
The technique of safeguarding animals and plants and their habitats are known as wildlife conservation. As a component of the world’s ecosystems, wildlife gives stability and equilibrium to natural processes. Wildlife conservation aims to secure the preservation of these species and teach humans how to coexist successfully with them.
Over the past two hundred years, the human population has increased enormously, reaching over seven billion people, and it continues to rise swiftly. This indicates that billions of inhabitants consume natural resources more quickly than ever. This expansion and growth also threaten the habitat and existence of several species of wildlife worldwide, especially the plants and animals that could be relocated for land development or consumed for sustenance or other humanitarian reasons. The arrival of exotic species from other countries around the world, global warming, pollution, scavenging, fishing, and poaching are additional risks to wildlife.
The Importance of Wildlife is unquestionable Humans have traditionally sought remedies from nature. Numerous medicinal systems (such as Chinese traditional medicine) continue to rely on herbs, spices, and other natural substances, but even drugs would not exist in their current state without wildlife. Pharmaceuticals such as morphine, penicillin, and paracetamol were developed from wild plants. Scientists continue to resort to nature when hunting for treatments for diseases such as cancer and Alzheimer’s. The more alternatives people have for studying wildlife, the better.
It is essential for the ecosystem, all living things are interconnected. Even a single threatened or extinct organism has a cascade impact on an ecological system. It disturbs the food chain and causes environmental shockwaves. Additionally, it is essential to understand that dangers to species rarely occur in isolation. Threats to, say, honeybees are likewise threats to other pollinators. All wildlife should be safeguarded if ecosystems are to flourish.
Importance of Forest
Forests are indispensable for life on Earth. They purify the atmosphere we inhale, filter the drinking water, reduce soil erosion, and serve as a crucial barrier against climate change. The vast majority of the world’s diverse plant and animal species reside in forests, offering essential natural resources such as timber, food, and medicinal plants. Forests also sustain local communities and contribute to their prosperity.
The importance of forests is that Forests offer precious environmental, economic and social benefits to us all. Many of the most endangered species on Earth rely on forests for survival. These forests also provide direct support for ninety percent of the over a billion people living in extreme poverty. As the forest business generates approximately $186 billion in worldwide commerce in primary wood products to satisfy the world’s rising population of consumers, forests play a paramount role in the global economy.
Once forest cover is eliminated, biodiversity can suffer severe consequences. This can result in habitat loss, food sources, and migration routes for wildlife. As habitats decrease and new logging roads expand into previously unlogged areas, human-wildlife confrontations such as hunting and poaching grow. Approximately 80% of the world’s documented species are in tropical rainforests. Hence deforestation threatens the majority of the planet’s biodiversity. Roughly 80% of terrestrial biodiversity resides in forests, home to nearly half of the planet’s known species. This diversity is most abundant in tropical rainforests. However, woods on every continent are teeming with life Insects and worms incorporate nutrients into the soil. At the same time, bees and birds disperse seeds and pollen, and keystone species such as leopards and big cats keep herbivore populations under check. Biodiversity is vital to human and ecosystem economies, yet it is increasingly threatened by deforestation worldwide.
Trees create vital shade oases below by trying to grow a canopy to absorb sunlight. Urban trees help keep buildings cool, lowering the requirement for ceiling fans or air conditioners. In contrast, extensive forests can take on complex tasks such as reducing a town’s “heat island” effect and regulating regional temperatures.
Especially in low-lying locations such as river plains, tree roots play a vital role during heavy rainfall. Slowing the flow, they let the ground soak something of a flash flood, lowering the rate of soil erosion and property damage. Not only can trees produce fruits, nuts, seeds, and sap, but they also allow edible mushrooms, berries, and beetles to flourish on the forest floor, along with larger animals such as deer, turkeys, rabbits, and fish.
The world’s forests are in peril. Despite the importance of forests to the global ecology and economy, we continue losing forests and the endangered species that inhabit them. In 2020, over 12 million acres of tropical forest land were gone. Every minute, over 30 soccer fields’ worth of trees are lost. Forest degradation, poor forest management methods, and increasing demand for agricultural and forest-based goods contribute to widespread devastation. Some of the world’s most ecologically varied regions, like the Amazon, Borneo, Indonesia, and the Russian Far East, are particularly affected by deforestation. Consequently, about half of the world’s natural woods have disappeared.
Frequently Asked Questions/FAQs
Q- What is the importance of natural resources in economic?
Most economists acknowledge that environmental and natural resources must also be considered as they are the most valuable economic assets in addition to physical capital.
Sustainable natural resource management and maximizing the value of biological assets require, first and foremost, an appreciation of the role natural capital plays in social and economic development. Recognizing that evaluation is not only a simple computation that produces market values but also involves non-market values firmly ingrained in cultures is also necessary. Institutions and inclusive, open decision-making procedures ensure that resources are employed best for the most outstanding long-term economic value of the entire society rather than for the immediate advantage of a small number of individuals. A country’s development will be considerably easier if it has abundant resources, unlike a country with few natural resources. The connection between natural assets and economic development is good. Then, why then are natural resources necessary for growth?
To comprehend the importance of natural resources in economic growth, it is necessary to define ‘capital’ The term “capital” refers to an item that may be used to promote growth and development. Examples of capital include machinery, money, etc. With natural resources, we can generate the means necessary to initiate or accelerate the development process.
Another reason why the function of natural resources in economic growth is clear is that development and urbanization are frequently equated, and in both cases, this is right. When foreign companies such as MNCs (multinational corporations) recognize that a country has abundant natural resources, they want to invest in factories and create additional workplaces, resulting in the urbanization of specific regions. This is how urbanization is characterized when new infrastructure is developed and how commercial towns are established.