The Natural Capital Declaration (NCD) and Natural Capital Coalition (NCC) have convened two workshops to discuss developments in the application of natural capital accounting concepts in decision-making.
Key outcomes at the workshops, attended by members of the business and finance communities, included pilot projects on mapping capital risks, and guidelines for valuing natural capital in business decisions.
November 2014: The Natural Capital Declaration (NCD) and Natural Capital Coalition (NCC) have convened two workshops to discuss developments in the application of natural capital accounting concepts in decision-making. Key outcomes at the workshops, attended by members of the business and finance communities, included pilot projects on mapping capital risks, and guidelines for valuing natural capital in business decisions.
The NCD, a global finance-led initiative that commits banks, investors and insurers to account for natural capital in their operations, held a workshop on 31 October 2014, in Cape Town, South Africa. The workshop aimed to introduce new financial institutions to the initiative under the auspices of the Equator Principles Association, which promotes risk management for integrating environmental and social risk in finance.
During the workshop, NCD launched a flagship pilot project that aims to supply NCD signatories with a business case, common approach and tools to integrate natural capital into their investment strategies. NCD workshop participants included the NCD Secretariat, World Bank Group, African Development Bank (AfDB), China Banking Regulatory Commission, and the Organisation for Economic Co-operation and Development (OECD), among others.
The NCC workshop, held in London, UK on 15 October 2014, brought together more than 60 participants from businesses and international organizations to help shape the Natural Capital Protocol (NCP), a project launched in May 2014 to develop and pilot a framework for valuing natural capital in business decision-making.
Sessions also addressed drivers for natural capital accounting, the future of natural capital accounting and a game for demystifying natural capital valuation. The Protocol, which also includes sector-specific guides on food and apparel, seeks to transform corporate reporting to make natural capital accounting “second nature.” [WAVES Press Release] [NCD Pilot Project] [NCC Protocol Project] [NCC Workshop] [IISD RS story on NCD Launch] [IISD RS story on NCP]