Capitals Coalition is a community made up of over 440 organizations and many more individuals from across the globe, united to advance the capitals approach to decision-making.
Below are key updates from this quarter across the Coalition and our global community. Find out how you can get involved and collaborate with us.
Nature on the Global Agenda in New York
Capital Coalition’s Executive Director, Martin Lok, was on the ground in New York, and reflected that nature was higher on the global agenda than in previous years. Notably, the launch of the Taskforce on Nature-related Financial Disclosure‘s (TNFD) final framework in the New York Stock Exchange, placed nature truly at the heart of financial decision-making.
Alongside this, the Coalition was a partner for the High-Level Event for Nature & People: From Ambition to Action which saw new biodiversity initiatives and finance announced as world leaders move to deliver on global nature agreements, such as the Global Biodiversity Framework and High Seas Treaty.
It is clear that nature is firmly placed in conversations at the highest level, with many moving to action. There is still progress to be made in tackling social and human issues, but with increasing appetite from the private sector, the Coalition will continue to work to bring all four capitals to to the forefront of conversations.
Launch of the TNFD Framework
The Taskforce on Nature-related Financial Disclosures (TNFD) recently launched the highly anticipated final disclosure framework. The Framework supports the understanding that nature is no longer a social corporate responsibility issue, but a strategic management issue and will enable companies and financial institutions to integrate nature into decision-making.
The TNFD was developed with the support of knowledge partners, such as Capitals Coalition. Core parts of our flagship framework, the Natural Capital Protocol, are fully integrated into the TNFD LEAP approach. It helped guide the TNFD to move beyond solely looking at impacts to also looking at business dependencies, which is a core principle of the capitals approach.
The TNFD is explained in this short video.
Launch of the TEEBAgriFood Operational Guidelines for Business
The TEEBAgriFood Operational Guidelines for Business were launched to provide a practical way for businesses to understand and act upon their impact and dependencies on natural, human, social, and produced capital in the context of the agrifood sector and transform their decision-making practices.
With thanks to funding from the European Commission, the Guidelines have been piloted in seven countries (Brazil, China, India, Indonesia, Malaysia, Mexico, and Thailand), through a variety of agricultural approaches and traditions. Through strong in-country collaborations, businesses have applied, challenged, and built upon these Guidelines over the three years since the launch of the first draft.
African Natural Capital Accounting in Nairobi
The Coalition attended the African Natural Capital Policy Forum in Nairobi on 6 – 7 September, along with the Coalition’s West Africa Hub. Positioned alongside Africa Climate Week, also in Nairobi, the agenda tackled the interplay between nature and climate with development head-on.
Governmental and statistical agency leaders from across Africa who were in attendance called for increasing the urgent collaboration between and amongst government Ministries, Departments, and Agencies in using natural capital accounting to meet the multi-objective climate and nature policies and investments.
The Coalition’s Senior Technical Director, Rosimeiry Portela, presented the background paper to the Forum, which she co-authored on the role of natural capital accounting in informing climate, biodiversity, and development policies in Africa.
The Coalition’s West African Hub lead, Eugene Itua, noted the clear path natural capital offers Africa to deal with the challenges of climate change mitigation, resilience, and adaptation through nature investment. He told the Forum the additional opportunities in engaging the private sector to attain the investment required, building on the momentum set by the Global Biodiversity Framework and TNFD.
TEEBAgrifood in Thailand and Indonesia
In August, Capitals Coalition, together with key partners SOS Thailand, IBCSD, UN Global Compact Thailand and UNEP organised events bringing together nearly 70 participants from business, academia and NGO sector for the TEEBAgrifood for Business project.
Participants discussed the TEEBAgrifood Project work with businesses in Thailand and Indonesia and explored the application of the TEEBAgrifood Operational Guidelines.
The event platformed insights from a panel of business speakers about how they have been using capitals approach and about the public sector’s application of the TEEB approach in evaluating for example, rice production using conventional, sustainable rice product and organic rice farming methods. The event was underpinned by the high-level business actions to advocate for a more holistic way of thinking in order to integrate natural, social and human capital into public as well as private sector decision-making.
The events showcased business applications from Binatani, AGRINDO, Great Giant Food and Olam Food Ingredients (OFI). In addition, there was a presentation from IPB University with scenario comparisons on cost-benefit analysis for agroforestry and business as usual.
The Coalition’s Advisory Panel met for the third time this year in September. The Advisory Panel provides input and guidance that feeds into the Coalition’s strategic development and direction. The panel is made up of leading organizations from a variety of backgrounds each with an important and unique perspective invaluable to the Coalition.
UBS, a new addition to the Advisory Panel in 2023, continues its Impact Measurement and Valuation by publishing a paper on Mainstreaming Natural Capital Accounting to meet biodiversity.
The Impact Accounting System (the Methodology) produced by the International Foundation for Valuing Impacts (IFVI) and Value Balancing Alliance is available for consultation until 16th October 2023.
The Green Economy Coalition published ‘Eco-Social Contracts for Polycrisis: Participatory mechanisms, Green Deals and a new architecture for just economic transformation’ in September 2023.
If you are interested in joining the Coalition, find out more here.
- Taskforce on Nature-related Financial Disclosures (TNFD) recently launched the highly anticipated final disclosure framework
- Sector Actions Towards a Nature-Positive Future – Business for Nature, World Economic Forum, World Business Council for Sustainable Development
- TNFD pilot case study – World Business Council for Sustainable Development
- TEEBAgriFood for Business, Pilot Applications – Capitals Coalition (TEEBAgriFood)
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