International organisations, governments, and businesses worldwide are confronted with the challenges of natural resource management in a world of growing demand and limited or declining supply.
Through UN processes, international, national and regional governments and organisations around the world have committed to apply SEEA as the harmonised approach for reporting on environmental stocks and flows and their connections to people and the economy.
Through the Natural Capital Coalition, many leading business have committed to adopt the Natural Capital Protocol as the best practice way to fulfil social responsibilities, assess risks and improve performance in relation to natural capital management.
SEEA’s strength lies in its description of international statistical standards for measurement and reporting of environmental stocks and flows, including ecosystem services and biodiversity, at nested levels of geographical focus, from local to global.
NCP’s strength has been to build awareness and practical understanding of the business imperative to be accountable for and improve natural capital management, and to provide a common process and language for engagement.
Both approaches create potentially valuable opportunities for integration of environmental data into economically driven decision making systems.