A key milestone was reached this summer with the launch of the Natural Capital Coalition’s Natural Capital Protocol. Helen Dunn explores the protocol in more depth including next steps.
“The Protocol is “a standardised framework to identify, measure and value direct and indirect impacts (positive and negative) and/or dependencies on natural capital”. The aim of the Protocol, (targeted at the business sector), is to provide a harmonised approach that can be applied internationally. This approach recognises that businesses operate differently across industries, geographies and cultures, and the need for a framework that can be widely accepted and applicable to business of all sizes, and in all locations.
Two sector guides have also been published – food and beverage and apparel. These sector guides are companions to the Protocol framework, and provide information on the key impacts, dependencies and challenges, as well as practical examples to demonstrate sector-specific business applications.
Valuation – defined in the Protocol as importance, worth or usefulness – lies at the heart of the Protocol framework, and provides a means to assess the ‘materiality’ of impacts and dependencies on natural capital…”
Read on at: Natural Capital Initiative