This article was originally published on Raconteur.
“…“The industry is doing a lot, but it needs to become more forward looking,” says Martin Williamson, government and public sector lead for water at AECOM. He argues that water companies need to consider natural, human and social capital, as well as financial, in their business planning. “These other capitals have been around for some time, but people have sometimes struggled to include them in their business cases. By making use of monetised values, which are becoming more accepted now for these other forms of capital, the leaders in the sector can realise long-term benefits that provide not only medium-term solutions, but a long-term legacy. Invest now and you will see the outcomes.”
An adviser to the Department for Environment, Food and Rural Affairs (Defra) on ecosystem services, AECOM also leads the Natural Capital Coalition’s operations group focused on the practical application of the Natural Capital Protocol.
Mr Williamson’s colleague Adrian Rees, director of asset management for water, offers an example of these other capitals in action: “Installing a sewer will prevent flooding and that will have an immediate effect. However, you could opt instead for a more sustainable drainage system that creates more green spaces and provides activities and involvement for local people. This has much wider benefits – natural, social and human capital. Anglian Water, for instance, is quantifying the social benefits of its volunteer programmes in beach and river care.”…”
Read on at: Raconteur.