If adopted at scale, the Protocol has the power to completely revolutionise the way that businesses make decisions. It acts as a magnifying lens to make natural resources, organisms and ecosystems -- as well as the services that they provide -- visible to senior executives and business leaders.
In concert with other Coalition members, IUCN oversaw the consortia on business outreach for the Protocol, which included testing the draft framework with more than 50 companies, such as Coca-Cola, Dow, Kering, Hugo Boss, Interface, Nespresso, Nestlé, Olam, Shell and Yorkshire Water.
In addition, IUCN contributed to the development of two Protocol sector guides: one for the apparel industry and another for food and beverage.
Under the auspices of the Coalition, IUCN is currently working on an International Finance Corporation (IFC) country case pilot project, with its local partner Ecoversa in Colombia, as well as with Coalition partners EY, Trucost and Cambridge Institute for Sustainable Leadership. The project will identify barriers and enabling conditions – both financial and regulatory – that need to be addressed if the Natural Capital Protocol is to be adopted and scaled-up at a country and regional level.
At a stakeholder workshop in Bogota in May 2016, more than 50 stakeholders from business, NGOs, banks and research organisations -- together with representatives from the World Bank, IFC, United Nations Environment Programme and the Coalition --reviewed the initial findings from the pilot study in Colombia.
A full report on the country pilot study is due later this year, and it is expected to help inform the Coalition's implementation of the Protocol.
For more information about the Natural Capital Protocol, visit the Natural Capital Coalition website.