Accounting for natural capital

Colin Mayer from Oxford University's Said Business School, who is leading our mutuality partnership there, has written a working paper for the Natural Captial Committee. The paper outlines the NCC's innovative new Corporate Natural Capital Accounting framework that is designed to enable organisations to properly account for the natural capital they own, for which they are responsible or on which they are dependent.

We like that the NCC is moving beyond theory to test the framework:

Having developed the framework, the NCC evaluated the methodology by piloting it with the National Trust, The Crown Estate, United Utilities and Lafarge Tarmac....Undertaking the pilots and responding to comments from various stakeholders, the NCC has been able to produce a generic account and a set of guidelines which other organisations should be able to use in undertaking their own CNCA.

The NCC is and independent advisory body set up to advise the government on sustainable use of England's forests, rivers, atmosphere, land, wildlife, oceans, and other natural resources.  You can read the full working paper following the link above.

-- Jay Jakub

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