Protocol Training Resources
Training materials are available for the application of the Natural Capital Protocol and the Social & Human Capital Protocol.
The Capitals Coalition also includes many organizations who specialize in providing training and technical advice and services to those conducting capitals assessments.
New Online Business Training Course Released
The Capitals Coalition now offers a free online business training course on the Coursera platform, supported by We Value Nature.
The course provides a comprehensive introduction to the capitals approach and to undertaking a capitals assessment, and, while it is open to all, will be of specific relevance to those working across strategy, risk management, finance, procurement, accountancy, auditing, human resources and sustainability.
Find out more here.
We Value Nature
The We Value Nature campaign, supported by the EU Commission, was created to reinforce and amplify the work of the Capitals Coalition and promote the use of the Natural Capital Protocol.
The campaign has analysed the latest natural capital thinking and research in behavioural change to help individuals and organisations take the next steps towards adopting a capitals approach. Their research has shaped a series of training resources.
Trainers & Technical Advisors
The Capitals Coalition includes many organizations who specialize in providing training and technical advice and services to help organizations conduct capitals assessments.
The Coalition secretariat does not assure or accredit these organizations and it is up to the individual businesses to undertake the necessary due diligence before agreeing to any service provision.

AECOM Infrastructure and Environment
AECOM Infrastructure and Environment
AECOM provides natural and social capital consultancy services based on an in-depth understanding of the benefits derived from the natural and social environment.
Our natural capital and ecosystem services team has worked with business and communities, national and local government, with the aim of identifying, accounting for and ultimately protecting or enhancing the value of their natural capital. We have a range of ecologists, social scientists, economists, planners, engineers and other specialists working together to determine the value of natural capital and embed this in business processes, projects and investments as well as policies and plans with the ultimate goal of putting the value of nature at the heart of decision making.
We support the Natural Capital Coalition by hosting the monthly Operations Group webinar, to share best practice and move forward the important agenda of natural capital in practice. We have expertise and experience in undertaking environmental valuation, natural capital assessment, cost-benefit analysis, ecosystem-based mitigation and adaptation and in developing market-based instruments. AECOM has applied the Natural Capital Protocol for organisations including Yorkshire Water; researched the business motivations for engaging in the natural capital agenda on behalf of the Joint Nature Conservation; prepared the Payment of Ecosystem Services (PES) best practice guide for Defra; undertaken work to measure the social and environmental returns of woodland creation for the Forestry Commission, UK; has developed in-house as well as client-bespoke ecosystem services valuation tools, one of which was recently awarded the National Grid Chairman’s Award and was shortlisted for the Finance for the Future Awards.

Altus Impact
Altus Impact
Altus Impact is an environmental advisory and sustainability communications agency. We are environmental economists and strategists, expert number crunchers, content development specialists, and digital masterminds working with the public and private sector to find solutions to pressing development and environment challenges.
By using state-of-the-art tools and approaches (including qualitative, quantitative and monetary valuation of natural capital), we generate rigorous data, provide quality analysis and craft compelling messages that enable organisations make sense of their impacts and dependencies on natural capital across the entire product life-cycle and value chain. Our team has experience with various sectors including tourism, transportation, infrastructure planning, farming and forestry in this regard.
Capitalizing on this background, Altus Impact is well-positioned to assist in the coalition with a different tasks, including: reviewing the NC protocol, developing sector guides and assisting coalition members with implementing parts or the whole of the protocol. Altus Impact will also be active in ‘spreading the message’ amongst our clients and networks and encourage adherence to the coalition and use of the protocol so as to promote the conservation of natural capital within businesses worldwide.

Anthesis Consulting Group
Anthesis Consulting Group
Anthesis Enveco offers consulting, research and training services. In Anthesis Group, we serve as a Centre of Excellence in environmental economics, and we also have core competencies in social sustainability issues, sustainable energy systems and sustainable urban development, where we have a unique integrated (economy-environment-energy) business proposition based on long experience and innovative solutions. We are well-established in the international research community and have since our inception in 2004 been involved in a considerable number of national and international research and consulting projects, often as the main coordinating body.
We have worked with the public and private sector, to demonstrate that those businesses that value natural capital and account for ecosystem services in their strategic and operational decision making, and accounting, are likely to be more competitive in the long run. We arrive at these findings by: (1) applying environmental economics techniques for valuing ecosystem services and natural capital change; (2) contributing to improved decision-making support for businesses and policy-makers by taking such values into account in cost-benefit and cost-effectiveness analyses; (3) complementing such economic analyses with social and environmental aspects in broader sustainability assessments through multi-criteria analysis; and (4) advising on policy instrument design that would give economic and other incentives for actors to change their behavior in a way that supports a sustainably productive natural capital as a crucial part of a sustainable development.
We are delighted support the important work of the Natural Capital Coalition by contributing to the piloting of The Protocol; participation in the regular operations calls and consultation on the Finance Sector Supplement. We are also engaged in the development of the Oceans Supplement, drawing on our recent involvement in the NutriTrade project in the Baltic, and assessment of the economic value of inland waters in Stockholm.

Applied Genomics Ltd.
Applied Genomics Ltd.
Applied Genomics deliver bespoke solutions for ecological assessment using the latest advances in environmental genomics technologies. Our approach is particularly valuable for projects undertaken in challenging environments or that have a higher level of operational difficulty, which current ecology techniques cannot easily address: biodiversity assessment; detection of rare or cryptic species; management of threatened or invasive populations. Our solutions may be adapted to suit local to landscape-scale assessments. Our services include biodiversity monitoring, biosecurity, environmental risk assessment, ecotoxicology impact assessments, species-habitat occupancy modelling and environmental rehabilitation. Our approach is cost-effective, non-invasive, rapid, robust and achieves a significant advancement in delivering ecological assessments with molecular accuracy.
We support the Natural Capital Coalition’s mission through sharing of our experience in delivering environmental genomics assessments and by collaborating on the development of protocols for incorporating environmental genomics assessments in an ecosystem valuation framework. We support a shift in corporate behavior to enhance natural capital valuation and the evolution of an enabling policy environment.

Arcadis
Arcadis
Arcadis was part of the team responsible for developing the Natural Capital Protocol. Through our global presence we are able to provide our clients with the necessary support on regional and global issues with regard to natural capital. Arcadis has over many years worked with a wide range of clients on very different projects and can support clients in the following ways:
• Identification of natural capital impacts and dependencies (corporate level, site level, value chain level, product level) and the associated risks and opportunities (based on robust materiality assessment criteria and techniques).
• Measuring and valuing natural capital impacts and dependencies, including the identification of pragmatic indicators.
• Valuation of changes in natural capital; valuation techniques for both societal values and business values.
• Natural Capital Protocol compliance checks – How does your strategy fit with the Stages, Steps and principles of the Natural Capital Protocol?
• Specific expertise in challenging natural capital components such as biodiversity. How to develop pragmatic indicators for biodiversity? Which are suitable No Net Loss approaches? We have extensive experience with Natural Resource Damage Assessment (NRDA) and Habitat Equivalency Analysis (HEA) to support the quantification of the services provided by natural capital in upstream, midstream, downstream and retirement of assets, globally.
• Specific expertise in Green Infrastructure and Nature Based Solutions: option appraisal, design, assessment of natural capital benefits and business value, training (Arcadis contributed to the WBCSD/UNEP online, free training course on Natural Infrastructure for Business (NI4Biz)).
• Specific expertise in maximizing asset value: optimizing natural capital design in order to increase resilience to climate change, increase biodiversity value, reduce operating costs, etc.
• Defining your Natural Capital Strategy and Action Plan on corporate, site, value chain, product level.
• Developing and conducting trainings on natural capital. We have done so for larger companies as well as small and medium enterprises.
• Specific expertise in natural capital incentive mechanisms (regulatory, voluntary) such as Payments for Ecosystem Services, temporary nature, etc.
Arcadis was also one of the pilot testers for the Natural Capital Protocol. This, along with our contribution to the Dutch Green Deal “Transparency Natural and Social Capital” in collaboration with 21 other Dutch businesses, the government and Non-Governmental Organizations, and the resulting publication “It pays to be transparent” indicates we not only support our clients in identifying their relationship with natural capital but also hold ourselves accountable to the same standard.

Azentúa – Valor Ambiental y Sostenible
Azentúa – Valor Ambiental y Sostenible
We offer our technical and technological expertise of more than 10 years working in the development of methodologies to help our customers in the identification and quantification of their environmental risks and integrating the results in the corporate decision boards. We offer the possibility of, by the application of the Natural Capital Protocol (and/or sector guides), companies make tangible the intangibles. We offer our expertise in developing solutions to help in the application of the Natural Capital Protocol as a global standardized framework for understanding impacts and dependencies on natural capital and integrating this into decision making.

Conservation International
Conservation International
For nearly 30 years, Conservation International (CI) has been protecting nature for the benefit of all. To that end, CI is helping to build a healthier, more prosperous and more productive planet. We do this through science, policy, and partnerships with countries, communities and companies.
CI has delivered innovative research and science based solutions to transform the global conservation agenda. Researchers of CI’s Betty and Gordon Moore Center for Science (MCS) have worked for 27 years on innovative partnerships, advanced analysis and rigorous scientific work that focus on the health of ecosystems, the values they provide to societies and the way people make decisions.
CI has engaged in innovative private sector partnerships for over 25 years. CI has a dedicated team, the Center for Environmental Leadership in Business (CELB), focused on making global production more sustainable by forging positive collaboration with the private sector. CELB leads CI’s efforts to promote sustainable business practices by working with companies — particularly those that have extensive global footprints in industries like mining, energy and agriculture — to ensure that the production of vital goods and services is sustainable and does not undercut nature’s ability to support humanity. CELB brings together business leaders through the Business & Sustainability Council.
Working in close coordination, experts from CI’s Moore Center for Science and Center for Environmental Leadership in Business (CELB) work together through advanced analysis and rigorous science to develop solutions to improve their business practices, creating and implementing strategies that combine bold commitments to sustainability with practical solutions that deliver benefits to the bottom line and the environment.

CREM
CREM
With the limits of the planet being increasingly stressed and social challenges growing, CREM is committed to a sustainable economy and society, working together with companies, governments, research institutes, NGOs and consumers. Our work encompasses research & advice, training, implementation and communication, from the point of brainstorming to monitoring of results. Working in the Netherlands as well as internationally.
Since the start of CREM in 1989, we have become experts in the fields of (international) Corporate Social Responsibility (CSR), Business & Biodiversity, Natural capital, Circular economy and Sustainable production and consumption. Working on the separate areas and linking areas into integrated approaches; e.g. by explaining the role of natural capital in a circular economy or by providing guidance to the integration of biodiversity and ecosystem services into an ISO 14001 management system.
We are and have been working on a wide variety of natural capital projects, including:
- The development of natural capital tools; such as the Natural Capital Quick Scan, assessing impacts, dependencies, risks and opportunities; generic and for specific sectors.
- Running a Natural Capital Helpdesk for business since 2013, working with over 100 companies.
- The calculation of biodiversity footprints for companies and investment portfolios of financial institutions.
- Working on natural capital reporting for business, as part of CSR reporting.
- The development of ‘Guide on Natural capital and Financial Institutions’ in collaboration with VBDO, forming the starting point for the development of the Finance Sector Supplement to the Natural Capital Protocol.
Our broad expertise is relevant in all stages of the Natural Capital Protocol, including Frame, Scope, Measure and Apply.

denkstatt GmbH
denkstatt GmbH
denkstatt is a leading sustainability advisory working across Central and Eastern Europe. The company is headquartered in Vienna, Austria, with subsidiary offices in Bulgaria, Hungary, Slovakia and Romania, together comprising of in-house staff of 85 and a network of expertise. Additionally, denkstatt is a member of INOGEN Environmental Alliance – a global network of EHS consultants.
denkstatt’s mission is to drive the change to a sustainable society engaging with corporate clients, state and municipal authorities and institutions, joint projects and partnership initiatives. We help our clients maintain profits in the long-term while increasing natural, social and human capital.
denkstatt performs inventories, environmental and social analyses, impact assessments, trainings. We develop relevant indicators and manage data, identify trade-offs between potential adverse effects, assess external costs and benefits, draft corporate sustainability reports. denkstatt elaborates stakeholder engagement strategies and manages stakeholder processes for high visibility projects including industry and public sector. In addition, denkstatt conducts valuation studies of ecosystem and socio-economic impacts. We delivered one of the pilot projects that contributed to the development of the Natural Capital Protocol: Accounting for ecosystem services of water replenishment interventions, The Coca-Cola Company.

Ecoacsa Reserva de Biodiversidad
Ecoacsa Reserva de Biodiversidad
Ecoacsa is a pioneering company in Spain offering comprehensive business solutions for private and public sectors to measure and value natural capital.
With this aim, Ecoacsa implements tools to evaluate and integrate natural capital and biodiversity into business production models. This approach allows to develope actions to minimize risks and business dependencies and provide new business opportunities.
Ecoacsa provides comprehensive solutions through the promotion of turnkey projects, consultancy work and creating additional stimuli to encourage new investment paths in rural areas to favour the development of a social fabric and contribute to the conservation of nature in a sustainable and cost-effective way.
Ecoacsa offers all the services associated with knowledge, development and implementation of market mechanisms for nature conservation (development of market tools such us payment for ecosystem services projects, conservation banking, environmental certification, land stewardship initiatives.
It is essential to know how to integrate ecosystems and their services to the business cycle in our society, in order to achieve sustainable development. Thus, Ecoacsa has a training plan that includes all needed material to natural environment assessment as well as to learn the economic flows in which it is integrated and the tools to reach it.
Ecoacsa has a news platform called Mercados de Medio Ambiente launched to promote and disseminate the development of market mechanisms for nature conservation. Mercados de Medio Ambiente publishes daily valuable information on the importance of ecosystem services and biodiversity conservation as a source of wealth, sustainability projects, rural development initiatives, etc.

EcoMetrix Solutions Group
EcoMetrix Solutions Group
EcoMetrix Solutions Group (ESG) was founded specifically to help clients apply ecosystem services principles to project planning, development and implementation activities. In addition to providing guidance related to study design, impact assessment, alternatives analysis, and results interpretation, ESG helps organizations develop and apply the metrics needed to make better, more informed decisions. ESG staff are available to share our experiences, drawn from performing ecosystem services assessments for Fortune 500 companies, non-governmental organizations, and government agency partners, with organizations seeking to apply the Natural Capital Protocol Framework. We offer advice, training, support, and consulting services to help with scoping analyses, applying ecosystem services assessment tools to measure potential project impacts and dependencies, and interpreting results so that ecosystem services information can be integrated into business decisions.
ESG staff are also available to help organizations apply the “Measure and Value” and “Apply” steps of the Natural Capital Protocol Framework to measure ecosystem services on a given site and integrate results into existing processes.
ESG worked in partnership with The Nature Conservancy and the Dow Chemical Company to develop the ESII Tool, and today it has become an essential support tool in Dow’s new 2025 Goal to Value Nature.

eftec
eftec
eftec have been part of the technical author team of the Natural Capital Protocol, and work on natural capital for businesses, governments and civil society, at local, national and international levels. eftec are offering a 2-day training course that will provide an overview of the Protocol, with an emphasis on its materiality assessment, measurement and valuation steps. This training is designed for business personnel looking to apply and commission natural capital assessments within their business.
eftec provides economic analysis for sound, effective and sustainable environmental management. Since 1992, we have been assisting our public, private and non-governmental clients to:
- Understand the value of the natural environment: By using economic valuation techniques for primary research, and interpreting already existing evidence using value transfer.
- Demonstrate the value of the natural environment: By applying decision-support tools like cost benefit and cost effectiveness analyses, stakeholder engagement, multi-criteria analysis.
- Capture the value of the natural environment: By designing policies and investment strategies that involve offsets, habitat banking, green taxes and voluntary agreements to sustainably generate income and reduce environmental damage.
Natural Capital Protocol Toolkit
The Natural Capital Protocol Toolkit was developed by WBCSD and facilitates uptake of the Natural Capital Protocol by consolidating the wealth of tools, methodologies and approaches available for natural capital measurement and valuation.
The Toolkit is hosted by MIT SHIFT, an MIT Sloan Sustainability initiative.
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