The Natural Capital Coalition’s Executive Director, Mark Gough, discusses how the Natural Capital Protocol could mainstream the inclusion of nature in the decision making of organizations.
“‘Natural capital’ is ‘the stock of renewable and non-renewable natural resources (e.g., plants, animals, air, water, soils and minerals), that combine to yield a flow of benefits to people.’
All businesses have both an impact and a dependency on natural capital. Understanding this complex relationship between nature, individual businesses, and the global economy, can provide invaluable insights on how to protect and enhance the health not only of the planet, but of our social and economic systems too.
For instance, Dow Chemical recently identified, through a natural capital assessment, that planting a 1,000 acre forest next to a chemical factory would be more efficient, cheaper, require less maintenance and provide longer service provision than installing conventional smokestacks as a method of removing excess nitrogen oxide from the air.
There are an abundance of ways that natural capital data can be utilized in order to improve the health of the environment, the success of the economy and the welfare of human beings. At its heart, what this comes down to is an ability to make robust and informed long-term decisions.
However, there are obstacles that have stood in the way of scaling natural capital approaches, and in training organizations in how to identify nature-based solutions. One of these challenges has been the lack of a standardized framework to guide businesses through these often complex assessments. By providing such a framework in the form of the Natural Capital Protocol and two related sector guides, (Food & Beverage and Apparel), the Natural Capital Coalition is attempting to dismantle the hurdles standing in the way of wide-scale business adoption, and accelerate progress in the global economy…”
Read on at: Rockefeller Foundation