NCD ‘soft’ launch at the UNEP-FI Global Roundtable in Washington DC
The UN Environment Programme Finance Initiative bi-annual conference in Washington has ended with HRH Prince Charles calling for reporting on natural capital to become a normal part of doing business and TEEB economist Pavan Sukhdev saying that, according to a True Cost study, business was getting an annual “$4 trillion free lunch” by not including environmental externalities and this was distorting “pretty much the price of everything”.
A common theme of this major conference entitled “The Tipping Point” and attended by 500 senior representatives of banks, investors and insurance institutions, was how today’s financial crisis is forcing a re-think of the whole valuation system and the words “Natural Capital” came up constantly as a missing part of the equation. This was fertile ground to soft launch the joint initiative with UNEP-FI, GCP and FGV for a ‘Natural Capital Declaration’ supported by FIs and released at Rio.
Videos from the Roundtable
- Speech by HRH Prince Charles
- Plenary I: Sustained Stability in the Next Economy: Lenses & Clocks
- Plenary II: Earth Summit 2012: Financing the Rio vision
- Session 5: Absolute Assets: Accounting for natural capital in lending and investment
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