This article was originally published on LinkedIn by Katherine A. Foster, Business Development Lead / Innovation Lead at Climate-KIC.
“…Numerous methods and frameworks of natural capital accounting and reporting have emerged but each has key limitations and barriers to uptake and scaling. The Natural Capital Coalition sought to bring together leading global initiatives and organizations and to harmonize approaches to natural capital and natural capital accounting under an umbrella framework, the Natural Capital Protocol (NCP). For our purposes, we will focus on scaling the Natural Capital Protocol as it is the result of global multi-stakeholder collaboration that brought leading global initiatives and organizations and is applicable to any business sector, operating in any geography, at any organizational level. The NCP provides the framework for high level assessment at multiple levels using three dimensions of scope: corporate (site, product, business unit, company), value chain scope, and typology of dependency or impact scope. We believe the NCP offers the best available framework to aid in identify, measuring and valuing impacts and dependencies on natural capital as it encompasses existing frameworks and methodologies in a consistent framework.
Natural Capital Protocol Barriers and Potential Blockchain Solutions
Having the NCP in place does not in and of itself answer all the key challenges in addressing natural capital, and in adopting, implementing and scaling natural capital accounting. Hence it is here that we begin to delineate these challenges and outline the areas blockchain could potentially serve to facilitate and accelerate the uptake of NCP. Our intention is to expand in separate articles related to these challenge areas and outline the potential capacity of blockchain to address the barriers. Going forward we will also bring in in real-life examples of application, perhaps on an open reference platform. In this first instance however we provide an outline as a foundation for reference and examination…”
Read on at: LinkedIn.