Natural Capital Coalition Selects Two Consortia to Develop the "Natural Capital Protocol"
The Natural Capital Coalition (NCC), formerly TEEB for Business Coalition, announced on 8 July to have selected two consortia to develop what will be known as the Natural Capital Protocol (NCP). The NCP intends to be an open source, global multi-stakeholder framework for understanding, measuring and valuing the impacts and dependencies on the natural environment, as well as understanding the risks and opportunities presented for businesses when natural capital is accounted for in business decision making.
The work on the Protocol brings together leading institutions on this subject, in the form of two consortia from business, accountancy, consultancy, financial institutions, and NGOs. The two consortia are managed by the World Business Council for Sustainable Development (WBCSD) and the International Union for Conservation of Nature (IUCN).
The consortium managed by the WBCSD, will bring together the various methodologies, systems and ideas currently in the market into a single harmonised measurement and valuation framework for natural capital. The consortium managed by the IUCN, will translate the Protocol into two sector specific guides on food & beverage and apparel.
It is expected that a fully tested first version of the Protocol can be presented by December 2015.
NCC recently published a study giving an overview of existing initiatives and methods: "Valuing Natural Capital in Business - Taking Stock: Existing Initiatives and Applications" (2014)
The Global Nature Fund has published an overview in German: "Wie Unternehmen ihr Naturkapital ökonomisch erfassen: Bestandsaufnahme und Handlungsempfehlungen"
In May, WWF Germany issued a report that explores recent trends and developments in natural capital accounting with a focus on national accounting by governments (as opposed to corporate accounting): Accounting for Natural Capital in EU Policy Decision-Making