This article was originally published on LinkedIn.
“…As we examined in our first article, a key challenge in adopting blockchain approaches in the transition to natural capital accounting is based on how well businesses understand and assign value, as well as report and manage their natural capital dependencies and impacts. Some companies have impacts related largely to consumers focusing on goods and services, while for others, the impacts are related to their supply chains and the different suppliers across these. In this article we outline cases that highlight advances and initiatives in key areas, in the first instances the pioneering efforts of Coca Cola and Puma followed by current examples where blockchain technology, natural capital accounting and supply chains topics are interconnected. The case studies were selected to illustrate how blockchain and natural capital accounting are interconnected across key sectors in the international trade economy: shipping, minerals, and technology.
As a first example, we look at the Coca-Cola Company (TCCC), which initiated a global strategy in 2015, committing to replenish the equivalent amount of water used its beverages and their production to communities and nature by 2020. As part of this strategy, TCCC engaged Denkstatt, a specialized Austrian sustainability consultancy group, to lead the ecosystem services project following the methodology outlined by the Natural Capital Coalition. The project undertook the assessment in two key steps, both in line with the requirements of the Natural Capital Protocol. It first measured the change in the state of ecosystem services (before and after) and then, it evaluated the net gain in ecosystem services in monetary terms with resulting data that adds significant data capacity to not only track suppliers and their individual ecosystem impact but that could be assigned in blockchains for direct decision making along the supply chain. (Denkstatt 2016)…”
Read on at: LinkedIn.