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IPIECA attends World Forum on Natural Capital

Natural Capital

Building on the success of the inaugural World Forum held in November 2013, the second forum, organised and hosted by the Scottish Wildlife Trust was held 23-24 November 2015 in Edinburgh. IPIECA attended the forum which convened over 500 representatives from 45 countries representing business leaders, policy makers, environmental experts and academics. The forum opened with a video message from Prince Charles speaking as patron of the Scottish Wildlife Trust, he highlighted that:‘The value of the planet’s ecosystems and biodiversity has not been taken into account fully and consistently in our decision-making systems’. The First Minister of Scotland, Nicola Sturgeon MSP, formally opened the Forum with a keynote address urging everyone to consider how economic thinking can be combined with the protection of the natural environment.

It was clear that since the first forum, the concept of natural capital is now recognised, however the evidence of how the valuation of natural capital is practically and consistently embedded was not clearly illustrated during the forum. The Natural Capital Protocol (NCP) is however now open for public consultation, it was formally released on 23 November 2015. The aim of the NCP is to enable business to assess and better manage their direct and indirect interactions with natural capital. There is hope that the principles and framework will provide the structure and consistency to aid application of natural capital valuation.

Read the DRAFT Natural Capital Principles and Framework

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