August 20, 2015
NewForesight consultant Sharon Hesp participated in a workshop directed towards finding solutions on how to include natural capital in private sector decision-making on July 30, 2015 in London. The event was organized by the Natural Capital Coalition and ICAEW to explore the issues of Natural Capital through a systems lens. Participants represented diverse organizations such as Deutsche Bank, Ernst and Young, WWF, IUCN and Dutch ministry of Economic Affairs.
The London-based Natural Capital Coalition is a global, multi stakeholder platform that supports the development of methods for natural and social capital valuation in business. Its members range from Deloitte and KPMG to Shell, Coca-Cola and IFC.
The Natural Capital Protocol (NCP) aims to provide a standardized framework for businesses to measure and value their impacts and dependencies on natural capital, the ability of nature to provide in goods and services. During the event, participants reflected on how the Natural Capital Protocol affects the system within which it is applied, explored which policies could catalyze more bottom-up action by business, and looked into how adoption of the protocol can be more widespread.
These insights will provide input for the World Forum on Natural Capital, which will take place 23 November in Edinburgh, where leaders from businesses, governments and NGOs will come together to discuss integration of natural capital in their respective fields.
The Netherlands Ministry of Economic Affairs contracted NewForesight to participate in this workshop and formulate recommendations for this upcoming World Forum. NewForesight’s thought leadership on sustainable market transformations, and on driving such transitions forward is helpful when facilitating the integration of natural capital in decision-making in the public and private sectors. Sharon and team from NewForesight provide expert advice to the ministry in its work on understanding the role of the government in creating conditions for businesses to integrate sustainability in their business decision-making.
Sharon worked together with the Netherlands Enterprise Agency (RVO.nl) earlier this year to publish an article on the role of natural capital in financial sector decision making. Read the publication here.
For questions and advise about integration natural capital in company policy, contact Sharon Hesp.