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Improving Nature’s Visibility in Financial Accounting

Current accounting frameworks must adapt to better recognise and integrate the value of natural capital alongside financial capital. Improving Nature’s Visibility in Financial Accounting offers the first steps to build an accounting framework that can capture the value of natural capital.

There are thousands of companies around the world conducting capitals assessments, but there is not yet a standardized way to include assessment outputs in financial accounts. Connecting natural capital data with financial accounts is a crucial step for businesses to recognize their impacts and dependencies on the natural world. 

Improving Nature’s Visibility in Financial Accounting describes and illustrates methods to integrate natural capital and social & human capital into financial accounting. 

The methods discussed are not intended to provide a panacea, but to offer novel improvements to current financial accounting approaches.

Following the publication of this report, we have developed a further project, Transparent, with the aim of evolving the accounting system.

We launch this report in the spirit of open enquiry, of identifying issues and of raising questions rather than providing complete answers. We invite you to join this effort, support the capitals movement and contribute to the discussion around harmonizing capitals approaches to improve decision-making by valuing the resources and relationships upon which we depend.

Partners

This work has been led by Economics for the Environment Consultancy Ltd (eftec) on behalf of the Capitals Coalition, with contributions from Paolo Quattrone, University of Manchester, Alexandre Rambaud and Clément Feger, AgroParisTech and Jeremy Nichols, independent.

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