World Business Council for Sustainable Development becomes official Natural Capital Declaration supporter
20 November 2013, Edinburgh: The day before the opening of the inaugural World Forum on Natural Capital, The Natural Capital Declaration (NCD), convened by The Global Canopy Programme and the UN Environment Programme Finance Initiative (UNEP FI), is pleased to welcome the World Business Council for Sustainable Development (WBCSD) as an official supporter of the NCD.
From water to crops, erosion control and wildlife, nature provides an almost immeasurable range of goods and services, or ‘natural capital’ that drive the world’s economies while sustaining the planet’s ecosystems. As more and more businesses realise the strategic importance of natural capital considerations in relation to their business models, there has been a growing trend to identify and understand exactly how such considerations are relevant both in terms of risks and opportunities.
The NCD is a finance-led and CEO-endorsed initiative committing financial institutions to integrate natural capital considerations into financial products and services, accounting, disclosure and reporting. Over 40 financial institutions are signatories to the Declaration and more than 30 supporter organisations bring a range of expertise to the initiative.
The WBCSD will provide the NCD with insights and recommendations into the development of assessment, accounting, and reporting frameworks that incorporate natural capital considerations. These inputs will be informed by the WBCSD’s Natural Capital work program and toolkit, as well as the Action2020 platform that sets a science-based agenda for business to develop scalable solutions to address the urgent needs of the environment and society.
“We are extremely pleased to be supporting the NCD, which provides a unique platform to help mobilize banks, investors and insurance companies to sustainably manage the planet’s natural capital, and better understand its full value,” said James Griffiths, WBCSD Managing Director for Natural Capital. “It will be exciting to link the work of the NCD with the innovative business solutions in the WBCSD’s Action2020 plan,” added Griffiths.
At the opening plenary of the World Forum on Natural Capital tomorrow in Edinburgh, the WBCSD, in partnership with more than 20 participating organisations including the NCD, will launch a two-minute video called “Pitch for Nature”, highlighting the value of nature to business.
Earlier this year, the WBCSD created overarching units around Natural, Social and Financial Capital. The “Natural Capital Ecosystems platform” captures WBCSD’s work on water, ecosystems, forests and most recently agri-business solutions. The organisation’s strength with corporate members from a range of key industries, including extractives, agribusiness and consumer goods, will help to build a strong coalition between the NCD and the global financial community.
Ivo Mulder, Programme Officer, UNEP FI and initiator of the Natural Capital Declaration states, “It is fantastic that we have the support of the WBCSD. Their involvement will help the NCD develop a global consensus for the integration of natural capital into private sector accounting and decision making, as well as the development of methods to disclose and report on natural capital.”
For further information, or to arrange an interview, please contact:
Global Canopy Programme
Rachel Mountain, Head of Communications, Global Canopy Programme,
Tel: +44 (0)1865 724 333
UNEP Finance Initiative
John Dombkins, Communications Officer, UNEP FI,
World Business Council for Sustainable Development (WBCSD)
Caterina van Leeuwen
Director, Global Communications
Tel: +41 22 839 3157
Notes to editors
1) About the World Business Council for Sustainable Development
The WBCSD is a CEO-led organization of forward-thinking companies that galvanizes the global business community to create a sustainable future. From its starting point in 1992 the present day, the Council has created respected thought leadership on business and sustainability. The Council plays the leading advocacy role for business. Leveraging strong relationships with stakeholders, it helps drive debate and policy change in favor of sustainable development solutions. The Council provides a forum for its 200 member companies – who represent all business sectors, all continents and combined revenue of over $US 7 trillion – to share best practices on sustainable development issues and to develop innovative tools that change the status quo. The Council also benefits from a network of 60 national and regional business councils and partner organizations, a majority of which are based in developing countries. By thinking ahead, advocating for progress and delivering results, the WBCSD both increases the impact of our members’ individual actions and catalyzes collective action that can change the future of our society for the better. www.wbcsd.org.
2) About the Natural Capital Declaration
The Natural Capital Declaration, launched at the Rio+20 Earth Summit in June 2012, is convened by the United Nations Environment Programme Finance Initiative (UNEP FI) and the Global Canopy Programme (GCP). The Natural Capital Declaration defines natural capital as the stock of ecosystems that yields a renewable flow of goods and services. It provides the ecosystem products and services that underpin our economy and provide inputs and direct and indirect benefits to businesses and society in general. www.naturalcapitaldeclaration.
3) About UNEP Finance Initiative
UNEP Finance Initiative is a global partnership of over 200 institutions, including banks, insurers and fund managers, working with UNEP to understand the impacts of environmental and social considerations on financial performance. www.unepfi.org.
4) About the Global Canopy Programme
The Global Canopy Programme (GCP) is a tropical forest think-tank, working to demonstrate the scientific, political and business case for safeguarding forests as natural capital that underpins water, food, energy, health and climate security for all. www.globalcanopy.org.
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