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Enabling Business Decisions that Integrate Natural Capital

Prior to the launch of the Natural Capital Protocol, this white paper reviewed the elements that promote the up-scaling of the Protocol and explored how to create an enabling environment for natural capital to be integrated into business decisions.

Using a systems lens, the paper asks can the Protocol contribute to sufficient systemic change or does it mainly drive incremental change within existing structures, and what additional policies may be required to create an enabling environment?

The paper highlighted the need for the Coalition’s theory of change to go well beyond today’s companies and reflect how it can change the design of the companies of the future, informing our projects, further publications and our ambition.


This work was authored by Roland Kupers (University of Oxford), Mark Gough (Capitals Coalition), Martin Lok (Ministry of Economic Affairs of The Netherlands), Filipa Saldanha (Calouste Gulbenkian Foundation) and Richard Spencer (ICAEW).

The ICAEW led on the development of this paper on behalf of the Natural Capital Coalition.

We thank the Netherlands Ministry of Economic Affairs, Calouste Gulbenkian Foundation, and WWF-UK for their financial sponsorship of this project.

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