Natural Capital Protocol launched
On 13 July, the Natural Capital Coalition launched the Natural Capital Protocol (NCP). The 130 pages of the NCP intend to offer a standardized framework to identify, measure, and value impacts and dependencies on natural capital. It is purposely a broad and flexible framework that is applicable to any business sector, operating in any geography, at any organizational level.
Natural capital assessments can be conducted on a corporate, project or product level. Businesses can, depending on their objectives, decide to measure impact drivers and/or dependencies. measure changes in the state of natural capital, and value impacts and/or dependencies.
FRAME STAGE: Why?
Step 01: Get started
SCOPE STAGE: What?
Step 02: Define the objective
Step 03: Scope the assessment
Step 04: Determine the impacts and/or dependencies
MEASURE AND VALUE STAGE: How?
Step 05: Measure impact drivers and/or dependencies
Step 06: Measure changes in the state of natural capital
Step 07: Value impacts and/or dependencies
APPLY STAGE: What next?
Step 08: Interpret and test the results
Step 09: Take action
Annex A: Classification of ecosystem services
Annex B: Valuation techniques for natural capital assessments
References and resources
List of tables, figures, and boxes.
The NCP describes the potential pathways. It does not, however, explicitly list or recommend specific tools or methodologies. It does not attempt to provide detailed instructions on how to apply specific measurement or valuation methods, either, but refers instead to the extensive academic, practitioner, and policy literature on these methods. This means the NCP cannot solve the challenges of measuring, data availability, or indicators, but describes under what conditions companies may be able to approach these challenges. On page 14/15, the NCP refers explictly to the complexity and challenges of biodiversity measurement.
The NCP is offered for download at http://naturalcapitalcoalition.org/protocol/ The Natural Capital Coalition is also developing sector guides to accompany the Protocol. .