Natural capital - the finite stock of natural assets (air, water and land) from which goods and services flow to benefit society and the economy - is at the heart of environmental sustainability.
Most businesses depend on it directly or indirectly. But few discuss it despite NGOs, reporting bodies and international development organizations pressurizing businesses.
The Verdantix report Why CSOs Can’t Escape Action on Natural Capital helps Chief Sustainability Officers (CSOs) and VPs of Environmental Sustainability to understand the circumstances where natural capital is relevant for their business, the risks involved in ignoring natural capital and the options available to them to implement sustainability strategies that take better account of natural capital.
To inform this research, Verdantix spoke with 12 firms with billion dollar revenues that are actively integrating natural capital considerations into their sustainability strategies, along with four experts from not-for-profit organizations.
The Verdantix report shows that corporate dependencies on natural capital, and the associated risks, are now becoming clearer. Sustainability strategies need to address the underlying issues and impact on the business rather than just treat the symptoms.
“Businesses also need to consider the risks of missing opportunities to operate more efficiently or of letting competitors develop products that are more attractive to consumers,” stated Derrek Clarke, Industry Analyst at Verdantix. Alongside this, new tools and technologies are helping CSOs to capture information, understand where impact risks lie and find solutions.
Why CSOs Can’t Escape Action on Natural Capital recommends twelve steps for reducing risk and achieving greater success. These include:
- Understanding their organization’s specific risks and dependencies to make informed decisions
- Identifying the trade-offs that rule the future of natural capital
- Identifying the right indicators to measure and track ecosystem services
- Exploring a range of solutions such as strategies to reach new markets, using new technologies or developing new businesses and products.
- Developing pilot projects to test strategies and scalability.
Press Contact: Amanda Wilson, Global Marketing Director, Verdantix. Tel +44(0) 203 371 6779 awilson@verdantix.com
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