More than 40 companies are to test the natural capital protocol, which is being developed by the Natural Capital Coalition and aims to help businesses improve their decision-making by standardising how their relationship with nature is measured and valued.
Ten companies will test the protocol in depth against specific business applications, including: assessing water use opportunities and risks in site-specific locations (Dow Chemical); identifying the drivers of environmental impacts along the supply chain to inform raw material procurement strategies (Hugo Boss); investigating how natural capital assessments can enhance the management and reporting of environmental issues (F Hoffmann-La Roche); and exploring how to bring the results of a natural capital assessment into strategic business decisions (Kering).
Other businesses will test specific aspects of the protocol, and will involve a range of different geographies and sectors. The testing programme will be led by the Cambridge Institute for Sustainability Leadership.