Aim: The objective of this Guide is to help companies understand what is meant by natural capital accounting (NCA) for business and to help them select NCA approaches suitable for their specific circumstances. The Guide and decision-matrix tool developed as part of this study to help do this represent an initial attempt that requires building upon and updating in due course.
Approach: The project has been undertaken as part of the NCA workstream of the EU Business and Biodiversity (B@B) Platform. The Guide has been developed with the input of 10 Full Member companies of the NCA workstream, and review by other NCA Member companies. It has involved an initial questionnaire survey, two workshops and several of the Full member companies piloting the tool.
Business case: The continuing decline in natural capital and rise in associated regulations will increasingly result in businesses having to undertake some form of NCA. Furthermore, many businesses are already conducting NCAs because they recognise the benefits they can gain from doing so. This includes improved integrated decision-making, reduced risks and costs, new and enhanced revenues and a range of reputational and strategic benefits.
Read the report here.