Book your place at the natural capital event of the year:
- Understand the implications of the fast evolving debate about natural capital and how the opportunities and risks could affect your bottom line
- Network with senior decision makers and sustainability leaders from around the world
- Gain access to the latest developments and practical tools
- See how natural capital relates to other current developments in corporate social responsibility
- Help shape the debate for the benefit of business and the planet
WHAT IS NATURAL CAPITAL ACCOUNTING?
Fresh water, clean air, fertile soil, fish stocks and forests are all examples of the natural capital on which human wellbeing and economic prosperity depend. Yet these natural assets do not appear on traditional balance sheets and can therefore be invisible in decision-making. As a result, we are losing natural capital faster than ever before. A2013 report by the TEEB for Business Coalition (now the Natural Capital Coalition) estimates the cost of environmental externalities at a staggering US$7.3 trillion annually. But we can’t manage what we don’t measure.
Natural capital accounting is a rapidly evolving new way of thinking about how we value the economic benefits we derive from our natural environment. It is a methodology which enables governments, corporations and organisations to measure their environmental impacts and dependencies on natural capital in order to improve decision making to achieve better economic and environmental outcomes.(Click here for an explanation of natural capital and ecosystem services.)
THE NATURAL CAPITAL DECLARATION
Against a backdrop of growing global awareness that our ecosystems and biodiversity underpin both wealth creation and human security, the Rio Earth Summit saw the launch of the Natural Capital Declaration, a global finance-led initiative convened by the United Nations Environment Programme Finance Initiative and the Global Canopy Programme.
By signing the Declaration, CEOs at the helm of 39 banks, investment funds and insurance companies announced their commitment to understanding their impacts and dependencies on natural capital, and to incorporating natural capital considerations into their products and accounting. The United Nations Environment Programme was one of the key partners in the inaugural World Forum on Natural Capital, which marked an important step in moving the debate further towards action.
The World Forum on Natural Capital is organised by the Scottish Wildlife Trust in association with the United Nations Environment Programme; International Union for Conservation of Nature; World Business Council for Sustainable Development; Natural Capital Coalition and The Wildlife Trusts.