Today, marks the launch of the Social and Human Capital Coalition (SHCC), and the beginning of the public consultation on the Social and Human Capital Protocol (SHCP).
At the Natural Capital Coalition, we welcome this new initiative.
The Natural Capital Coalition has successfully convened a global multidisciplinary community of stakeholders to advance natural capital thinking.
We recognize that in order to further advance the wider ‘capitals approach’, we will need to convene new communities and galvanize new audiences and stakeholders around the other capitals.
This is why we need the Social and Human Capital Coalition.
Natural capital underpins all other forms of capital, which is why is has been important for us to begin with this approach, but organizations must understand the ways that they impact and depend on all of the capitals if they are to make truly informed decisions that benefit societies and the natural world, alongside businesses and economies.
Together, the capitals (which can range from relationship, social, human and intellectual through to financial, manufactured, physical and natural) symbolize the resources and relationships that all organizations, economies and societies fundamentally depend upon.
The central decision making framework developed by the natural capital community (the Natural Capital Protocol) will act as the foundation of the Social and Human Capital Protocol, and form the basis of the development of further guidance relating to the capitals.
The Social and Human Capital Coalition will leverage the success and precedent set by the Natural Capital Coalition to ensure alignment between the work of the two organizations.
Together, the two Coalitions are working towards a common vision of a unified and collaborative approach to measurement and valuation to inform decision-making across all capitals.
Mark Gough, Executive Director, Natural Capital Coalition