What’s the natural capital protocol?
At present there’s a growing number of fragmented activities underway with regards to the valuation of natural capital in business and public sector applications. One of the challenges in scaling uptake in business is the lack of a harmonised approach to enable natural capital valuation to be practically used in applications e.g. internal management, reporting and disclosure. This has changed since the 13th of July with the publication of the brand new Natural Capital Protocol!
The Project
The Natural Capital Protocol Project responds to this challenge. The overall vision of the Natural Capital Protocol (NCP) is to transform the way business operates through understanding and incorporating their impacts and dependencies on natural capital.
The aim of the NCP is to enable business to assess and better manage their direct & indirect interactions with the natural capital, in particular through:
- increasing knowledge and awareness to generate & deliver greater consistency
- equipping project managers to effectively link and embed the outputs directly into business (operations, accounting, etc.)
- stimulating action
The Natural Capital Protocol is a product of the Natural Capital Coalition. The latter has brought together the world’s leading institutions from business, accountancy, consultancy, financial institutions and NGOs to develop the Natural Capital Protocol. Some of these institutions are: Carbon Disclosure Standards Board, University of Cambridge Institute for Sustainable Leadership, Naturalogic’s partner Trucost, Conservation International, EY, FAO, GIST Advisory, Imperial College London, Integrated Sustainability Services, IUCN, Natural Capital Project, The Nature Conservancy, The Sustainable Fashion Academy, PwC, WBCSD, World Resources Institute and WWF.
Source: www.naturalcapitalcoalition.org