New research from the University of Cambridge Institute for Sustainability Leadership is highlighting the business need for simple and consistent natural capital metrics.
The research suggests that in order to obtain buy-in across departments, natural capital projects must be able to show a solid business case for action based on financial savings and/or new revenue streams, and also be able to link them to relevant natural capital metrics.
However, according to the Institute, while businesses are becoming more aware of their impacts and dependencies upon the natural environment there is currently a lack of consistency and links to commercial drivers in the metrics used to quantify impacts and dependencies across businesses.
This is the key finding of a new working paper launched by CISL ‘The commercial logic to measuring natural capital,’ which sets out the outcomes of a small piece of qualitative research.
It explores the use of different metrics for standard business processes by sustainability professionals and their relationship to natural capital measures.
The report also finds that:
- context is often not considered within natural capital measures;
- the metrics that companies currently use do not link well to commercial drivers;
- and there is only limited guidance available to help companies link natural capital metrics to commercial drivers in business.
- It highlights the need for simple metrics that enable companies to demonstrate their progress on securing natural capital that then link to commercial business decisions.
The report says that with these metrics in place it will be easier for internal decision-makers and potentially other investors to recognise the value of including natural capital considerations in decision-making and to help finance those that can demonstrate progress in this area.
Click here to read The commercial logic to measuring natural capital
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