Natural Capital Accounting
What is natural capital accounting (NCA)?
There are many existing approaches that businesses are using to “account for” natural capital and biodiversity, or, in other words, to measure and value their impacts and dependencies on natural capital, inform their decision making and strategy for example for better managing risk and taking advantage of opportunities, and engage with stakeholders. The NCA landscape is also evolving rapidly and comprises initiatives at global, EU level and Member State level, as well as both public and private sector initiatives.
What is the EU B@B Platform doing about this?
The objectives of the NCA workstream are to enhance knowledge development and knowledge sharing on biodiversity accounting approaches amongst EU businesses, in order to increase internal and external communication on company biodiversity performance.
How will the work continue in 2019?
In 2019, the NCA workstream will continue to encourage businesses to complete NCA and biodiversity assessments and raise awareness about the benefits of completing such assessments for businesses.
More specifically, the workstream will support businesses with measuring and valuing their impacts and dependencies on biodiversity by exploring and assessing tools, providing guidance, and fostering the exchange of knowledge.
It will seek to expand the critical assessment work to additional tools and integrate pilot cases. It will also further contribute to the Biodiversity Supplement of the Natural Capital Protocol (NCP).
In 2017 the objectives of the NCA workstream consisted of establishing closer cooperation with partner organisations (e.g. Natural Capital Coalition (NCC) and Cambridge Conservation Initiative (CCI), World Business Council on Sustainable Development (WBCSD)) to work on the biodiversity component of NCA toolkits and guides, and exploring possibilities for using national or regional NCA mapping for business applications.
In the last few years, the work of the NCA workstream included the following activities:
- Developing a decision framework and set of principles to help companies determine what form of NCA to adopt, and identify the best practice guidance and tools available to support them;
- Comparing NCA applications between businesses, governments and financial institutions, and identifying the main gaps and obstacles for sharing information, knowledge and best practices in NCA between these actors.
- Investigating the links between natural capital accounting for businesses and the concept of ‘Net Impact’.
Visit the Resources section to explore the business solution and documents that the workstream has developed with contributing members over the last years.
You would like to share experiences and get engaged in this work?
Contact the NCA workstream leader, Johan Lammerant.