Following an extensive pilot programme, the Natural Capital Coalition have released the Natural Capital Protocol today. This will provide a framework for businesses to perform Natural Capital Valuation, an exercise that minimizes environmental impact and reduces cost.
· The elements of nature that produce direct and indirect value for people
· Includes the value of the ecosystem services provided by an element (see infographic)
· Increasingly considered in monetary terms to better interface with business decision making
Committed to aligning our reporting tools with the forefront of sustainability thinking, UL EHS Sustainability have monitored developments in the Natural Capital Valuation space with strong interest. Whilst the newly released Natural Capital Protocol diffuses across the business landscape, we will investigate ways in which our platforms can be optimised to facilitate its adoption.
As demonstrated by our recent thinking around the Circular Economy, we feel there is value in exploring ways in which existing, enterprise wide reporting tools can complement bespoke options. Combined, business uptake of Natural Capital Valuation can be realised in a scalable and integrated way.