Lots more news and initiatives around this still relatively recent concept. We can’t keep track of them all, but here’s a taster.
Scathing Natural Capital Committee report
The government announced millions of pounds to help other countries meet a range of environmental objectives. Sadly, however, it is failing to meet its own. The latest report from the respected independent Natural Capital Committee – set up to advise government – is scathing. The committee points out that unless government undertakes a base-line survey of England’s natural capital assets it will be impossible to assess whether they are improving or deteriorating. It describes the information government has provided as ‘ambiguous’, ‘not fit for purpose’ and ‘vague’. As the Natural Capital Committee explained its previous reports, future prosperity depends on a measurably improving natural environment: vague promises are not enough.
The Committee has warned that the government’s progress on its 25 Year Environment Plan is insufficient, claiming that there is little evidence of progress since the document was published last year. This failure, the NCC claims, is due to the lack of a natural capital assets baseline against which to measure progress, an omission the organisation claims is ‘especially disappointing’ given that eight years have passed since the government initially published a white paper on the subject. For more details, click here.
New EU Guidance on Ecosystem Services in Decision Making Highlights Natural Capital Protocol
Reported by Natural Capital Coalition
The Commission has published two new guidance documents implementing the Commission’s action plan for nature, people and the economy. The new tools are intended to help planners, policymakers and businesses solve socio-economic challenges, while also protecting and restoring Europe’s nature.
The guidance document includes a chapter titled ‘Natural Capital and Ecosystem Services in Business Decision Making’, which includes the subchapter ‘A stepwise approach: the Natural Capital Protocol’ which lays out the Protocol framework and its Finance Sector Supplement.
Natural Capital Coalition – Commit to Applying Natural Capital Thinking to Improve Organizational Decision Making
In the build up to the crucial fifteenth meeting of the Conference of Parties (COP) of the Convention on Biological Diversity that will take place in China in 2020, the NC Coalition is asking businesses to commit to apply natural capital thinking, to act upon the results to improve their decision making, and to conserve and enhance the natural capital upon which we all depend.
Those businesses that sign this commitment, and act upon it, will be recognized as leaders in natural capital application, and as making a contribution to Business for Nature. Best practice will be published and promoted as inspiration for other businesses and governments.