Today marks a significant milestone in the development of the first global Natural Capital Protocol, less than a year before its launch: the release by the Natural Capital Coalition of an extensive report about business expectations and anticipated benefits from the Protocol; and an early glimpse of the draft Principles and Framework.
The new report provides a rare insight into the opinions of a broad range of businesses representing 15 sectors and all geographic regions. The Natural Capital Protocol: Feedback from Business Engagement Partner Interview Report highlights what actions are already being taken by business, as well as setting out eight key factors that businesses believe will help drive uptake and adoption of the Natural Capital Protocol when it is released.
The report is one of the inputs into the draft Natural Capital Protocol Principles and Framework, which the Coalition is also releasing today. The Framework sets out the four stages and 10 logical steps that a business should follow when carrying out a natural capital assessment.
Mark Gough, Executive Director of the Natural Capital Coalition said: "By releasing this groundbreaking report on business expectation and the draft Framework today, we are starting our broader engagement process on the development of the Protocol. By working collaboratively, the Coalition is creating solutions, building consensus and creating momentum behind an approach that can change how we engage with the natural environment."
Commenting on the release of the Business report and the Protocol Framework, Mathew Parr, Senior Advisor at IUCN NL said: "Embedding natures values in decision making is the corner stone of a green economy. IUCN NL is excited to be part of the development and testing of this truly cutting edge business tool. The Protocol will enable our business partners in IUCN NL's Leaders for Nature and Platform BEE in the Netherlands to really change the way they do business, improving and sustaining both financial and ecological bottom lines."
The next milestone is the start of the international Protocol pilot program, which runs from October 2015 to February 2016, and will be supported by a broader consultation process launched on the 23 November 2015 at the World Forum for Natural Capital.
With over 130 Coalition members and 150 companies involved in the Coalition Business Engagement Program, momentum is growing. Business recognizes that as well as addressing risks, there are also significant opportunities that can be found from understanding our relationship with nature and improving decision making.
They also know that we have to move quickly; we are drawing down on our natural capital at a rate of 50 percent more per year than the earth can replenish, and this rate of depletion is accelerating according to WWF’s Living Planet Report .
For more information, please contact Mathew Parr, 020 3018 261).