We are on the brink of a potential crisis from the combined effects of ecological degradation and population growth. Natural resources on which society and business are dependent are being lost at an unprecedented rate. This loss of natural capital is posing a new array of risks to business ranging from increasingly severe competition for access to resources, to tightening regulation and greater and more costly hurdles to accessing finance. The Rio+20 meeting saw over 50 countries and 89 private sector organisations make formal commitments on natural capital. A trend is emerging that attempts to use accounting practices to give better understanding of the implications of the loss of natural capital for governments and for business.
How prepared is the accounting profession to respond?
ACCA, KPMG and Fauna & Flora International have published an evaluation of the relevance of biodiversity and ecosystem services to accountancy professionals and the private sector
The link to the full report can be found below: