Reporting Ecosystem Services: new approach for companies
The Global Reporting Initiative (GRI), a network-based organization dedicated to developing reporting frameworks for sustainability has published its most recent research results in a report ‘Approach for reporting on ecosystem services: Incorporating ecosystem services into an organization’s performance disclosure’.
The publication, which was launched on October 5, provides an introduction to the recent discourse on ecosystem service valuation and proposes reporting tools. It specifically targets companies and organizations, offering a very practical approach to capturing their ecosystem use and dependence. Enterprises are enabled to looking at ecosystems as service providers by getting a clear picture of the extent to which they impact and depend on ecosystem services.
Developing such a reporting tool constitutes a major step in global efforts for measuring the economic value of biological diversity. The term ecosystem services was coined to highlight the fact that economies consume natural resources an do so free of charge. Devising indicators for analyzing the utilization of ecosystem services makes it possible to valuate those services. Assigning measurable utility to the different aspects of biodiversity made a strong case for business’ responsibility to contributing to biodiversity preservation. Tools for monitoring and reporting their impact now provide the practical means for companies and organizations to meet their obligations.
The publication is available from the GRI Webpage. People interested in organizations reporting on ecosystem services use can take part in the open Public Comment Period for the GRI’s next generation of Sustainability Reporting Guidelines, G4.