On Tuesday, October 13, The Natural Capital Coalition welcomed 40 leading businesses to begin testing of the Natural Capital Protocol, a huge step forward for the practice of natural capital accounting, which allows companies to measure and value their impacts and relationships with nature.This protocol will allow participating companies to standardize these measurements so the practice can be brought to scale across the private sector.
"The pragmatic work we are doing together to standardize and scale the Protocol is critical to the future protection and maintenance of natural capital and biodiversity" said Marie-Claire Daveu, Chief Sustainability Officer and Head of Institutional Affairs at Kering. In May, Kering released its Environmental Profit and Loss (EP&L) account, and open-sourced the methodology behind it so that other companies could follow suit.
Ten companies, including B Team leader companies Natura and Kering will be piloting the Natural Capital Protocol in depth, and 30 additional companies will pilot specific areas of the protocol.
This is a major first step to ensure that the protocol is robust, practical and relevant to the entire private sector.
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