Today, the Transparent Project, led by the Value Balancing Alliance, Capitals Coalition, World Business Council for Sustainable Development and the European Commission’s DG Environment, has published its final outputs after the launch of the Natural Capital Management Accounting (NCMA) methodology last month.
The final project outputs include three sectoral guidance documents for the agri-food, apparel, and chemicals sectors, to support the practical implementation of the NCMA methodology. The sector-specific guidances offer a robust framework to help address the unique challenges faced by companies in the food, chemical and apparel sectors and support users in their decision-making processes. By implementing the NCMA methodology, these companies can make better-informed decisions, and contribute to a more sustainable future that values nature alongside the success of their businesses.
Last month, the NCMA methodology was released. This methodology empowers private sector decision-makers with the information necessary to generate long-term value and improve business resilience, enabling a shift towards a more sustainable financial and economic system.
The Transparent Project was funded by the EU Life Programme to develop a standardized Natural Capital Management Accounting (NCMA) methodology for business in line with the ambition of the European Green Deal. The project marked a major contribution to the European Commission’s commitment “to support businesses and other stakeholders in developing standardized natural capital accounting practices within the Union and internationally, with the aim of ensuring appropriate transaction costs”.
For more information on the legacy of the Transparent project please head here.