Earlier this week, the World Business Council for Sustainable Development (WBCSD) and the Natural Capital Coalition launched the Natural Capital Protocol Toolkit, a brand new resource to help companies implement the Natural Capital Protocol – the first-ever standardized framework for measuring business impacts and dependencies on nature.
The Protocol and Toolkit will help businesses address natural capital depletion by improving understanding, measurement and decision-making.
Building on the foundational work of the Protocol, the Toolkit is a free and interactive database with over 50 tools for businesses to use in exploring, experimenting with and carrying out natural capital assessments across their operations.
By having easy access to the tools and methodologies already available in the Toolkit, companies can make progress on their efforts to measure and value their risks and opportunities, so that they can ultimately assess their true costs, true profits, true value.
Over time, the Toolkit will evolve to provide important data about which tools are the most commonly used by business. This will help business leaders understand which methods are the most effective.
“The Toolkit is an important step on the journey to understanding the true cost and true value of business’s impacts and dependencies on nature,” said Peter Bakker, President and CEO at WBCSD. “Understanding natural capital risks and opportunities will help forward-thinking businesses thrive in a world where more sustainable companies continue to become more successful.”
The release of the Toolkit comes exactly one year after the release of the Natural Capital Protocol.
Mark Gough, Executive Director of the Natural Capital Coalition said, “Released a year ago to the day, the Natural Capital Protocol is now recognized as the harmonized approach for businesses looking to understand their impacts and dependencies on natural capital. The Natural Capital Protocol Toolkit will further simplify the process of carrying out a natural capital assessment, by providing an up-to-date searchable database of necessary tools presented in the context of the Protocol.”