Biodiversity is insufficiently incorporated into private sector natural capital assessments. As a result activities designed to reduce impact on natural capital tend to focus on water and carbon, overlooking biodiversity considerations. This project will engage with key stakeholders to explore how biodiversity can be better represented and integrated into such assessments.
Bringing biodiversity into the heart of natural capital approaches
To use the collaborative convening power of CCI partners and the Natural Capital Coalition to support stakeholders to recognise and value biodiversity as a fundamental component underpinning natural capital.
This project will identify appropriate responses to better integrate biodiversity into corporate natural capital assessments, barriers to those responses and means of overcoming them by addressing stakeholder needs. This includes:
- Creating a cross-sectoral community that is engaged in biodiversity and in building capacity to include biodiversity within corporate natural capital assessments.
- Establish a roadmap to ensure that biodiversity is reflected within existing corporate natural capital approaches, including the Natural Capital Protocol.
- Articulate the limitations of the treatment of biodiversity within natural capital assessments and guidance such as the Natural Capital Protocol.
- Conduct detailed interviews with key stakeholders to secure further detail on these limitations and potential solutions.
- Conduct regional workshops: undertake three workshops to present the results of activities 1&2 and identify potential solutions.
- Identify a range of solutions: analyse the results from activities 1-3 to develop solutions with input from wider stakeholders, which can support the integration of biodiversity into natural capital assessments.
- A cross-sectoral community of practice is engaged on biodiversity and active in building capacity to include biodiversity within corporate natural capital assessments
- Greater flow of information from biodiversity experts into natural capital assessments
- Clear, evidenced articulation of user needs that can be used to secure funding to develop, test and disseminate an appropriate solution to the needs identified
Practical materials that can be used by ‘change agents’ to promote and demonstrate biodiversity as an underlying factor of natural capital, such as slides and a simple guidance document
A short report including:
- An articulation of the need for an approach to integrate biodiversity into corporate natural capital assessments
- Identification of a range of possible solutions for this integration
- A clear roadmap to drive the integration of the range of solutions identified as part of this project, to ensure that biodiversity is reflected within existing corporate natural capital accounting approaches, including the Natural Capital Protocol