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The burgeoning interest on social capital within the climate change community signals a positive movement towards a concern for the behavioural elements of adaptive action and capacity. But social capital is a slippery concept. In this paper the case is put forward for a critical engagement with social capital. There is need for an open debate on the dangers and opportunities that social capital presents. This paper discusses the formation, operation and utility of social capital and reviews options for future research agendas focused on communities of place and practice.