This is an extract from Shell’s 2016 Sustainability Report.
“Natural capital is the value of nature to people, society, businesses, and the economy. The concept of natural capital – and measuring, valuing and accounting for it – is evolving and a topic of interest to many, including governments, non-governmental organisations, financial institutions and businesses.
Shell is involved in several initiatives to learn more about natural capital, including its measurement and valuation, and to better understand its potential applications. Natural capital assessments can provide extra insights into Shell’s impact and dependency on the environment to help us manage this in a sustainable way and inform our business decisions.
In June 2015, we joined the Natural Capital Coalition, that brings together a broad range of global stakeholders, including organisations from business and finance, government, academia and civil society. As a member of the technical group developing the Natural Capital Protocol, a framework designed to help companies include natural capital in their decision-making, we have offered insights into how the Protocol could help businesses. Shell, with the support of our environmental partner IUCN, is one of the companies piloting the Natural Capital Protocol. We are part of a working group within IPIECA, the global oil and gas industry association for environmental and social issues, looking at water valuation, and exploring its application for the oil and gas sector.”