A recent report by the Global Accounting Alliance (GAA) highlights the importance of corporate natural capital accounting (CNCA) in helping businesses build resilience and value through nature-positive action and how accountants are well-placed to help drive uptake of CNCA across the market. The GAA-commissioned report, led by ERM and supported by the Biodiversity Footprint Company, IDEEA Group, and eftec, builds on a previous working paper, ‘Time to Take Stock‘, which set out proposals for what a standardized CNCA approach might look like in practice and identified gaps to be addressed. CNCA can improve nature-related data processing, making it more widely applied to business decisions (e.g., in risk analysis, strategy, investment planning and reporting).
The research behind the report involved a series of workshops with accounting and finance professionals from across the Atlantic and Asia Pacific (APAC) regions to explore the CNCA’s relevance to the accountants’ toolkit, trends in the barriers to market uptake, and how the professions can engage in and advance its use.
Read the full report.