It depends what you mean by loss. I consider loss as inability to use an asset, in this case the use of pasture. The pasture might have a value of $1B but is that it's true worth? Could you re-build that particular non-renewable pasture again to it's previous worth at this cost?

Lets use a concrete example. It's quite possible pasture in Fukushima, Japan has sustained a $1B loss. How would a $1B gain in skills ever replace lost pasture in this case? This is a real loss. No asset management shuffling can replace that loss of pasture.

The dollar value given to some assets, in this case natural assets do not reflect the true value, just what the market finds valuable at that time.