We held a workshop for finance professionals on natural capital accounting for forestry on 17th October 2019. Here is a summary of the workshop.
Forests are sources of peace, health, biodiversity; they clean the air, capture carbon, conserve soils, reduce flood risk, and of course produce timber, pulp, paper, fuel and food. While these benefits are provided jointly, we analyse them separately and maximise them individually. We measure benefits that are marketed like timber in our financial accounts. The others remain unaccounted for and, at best, quantified in separate reports.
We believe natural capital accounting offers a solution by bringing different metrics and data together for a more comprehensive measurement of such benefits and implications of our actions. In particular what we call Natural Capital Statements use income statement and balance sheet formats to present such natural capital data in a comparable way to the financials.
For the full details, click here.