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  • Accounting for Nature

Biodiversity - Accounting for Nature

Biodiversity
Natural Capital
Resources

What is biodiversity?

Biodiversity is the variety of life on earth. It includes all the different types of living things and habitats. It is often referred to as the ‘web of life’. Our societies and economies depend on it.

It is rapidly rising up the corporate agenda as more and more companies understand the need to protect it.

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Why biodiversity matters to businesses

Every business relies on nature. Even without realising it, businesses are in an ecosystem and have an impact on and are impacted by it.

For businesses, biodiversity means everything from clean air and water, fuel, food, raw materials, minerals, fibers, pollination of crops, climate regulation for a stable climate, and much more. For example, agribusiness relies on the diversity of wild relatives of major food crops, as a resource to ensure crop resistance to disease and pests.

Business rely on biodiversity for the wellbeing of their staff, their consumers, in their own operations and along their supply chains. And business are coming under increasing pressure to support protection of biodiversity.

Biodiversity is increasing in importance to business, and businesses will be expected to know about biodiversity action and to engage with it. The International Finance Corporation, a member of the World Bank Group, describes biodiversity as a fundamental component of long-term business survival. Benefits of biodiversity-action can include:

  • enhanced reputation
  • employee engagement and wellbeing
  • achieving responsible-business targets
  • mitigating risk of regulatory non-compliance
  • reputational damage
  • supply chain disruption.
In this article, find out how nature is everyone's business, and what businesses can do to protect it. 
Read article

Biodiversity and Chartered Accountants Ireland

On March 3, 2022, Chartered Accountants Ireland Chartered Accountants Ireland joins profession-wide commitment to reverse nature loss. Working together as part of the Global Accounting Alliance (GAA), the CEOs of 10 of the world’s leading accountancy institutes signed the call to action ‘Nature is Everyone’s Business’ to signal the important role the profession plays in this crisis.

Read more


What is natural capital?

'Natural capital' has its origins in the concept of capital as a stock that can give rise to goods and/or services. In the case of natural capital, the stock is natural resources or ecosystems such as forests, water, grassland or air, while the goods and services (known as ‘ecosystem services’) that flow from the stock include raw materials for production and consumption (fuel or food, for example), the absorption of wastes from production and consumption, and the fundamental life-supporting services provided by nature.

What is natural capital accounting? 

'Natural Capital Accounting' is a system for organising information about our ‘natural capital’ to help decision-makers understand how the environment interacts with the economy. ‘Natural capital’ frames the world's resources like plants, animals, water, and minerals as assets or stocks that yield a flow of benefits to people. Measuring these resources to show their benefits to society and the economy and to support more sustainable decision-making is described as the ‘Natural Capital Approach’. 
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Resources

The Business for Biodiversity Platform

The Business for Biodiversity Platform

Funded by the Irish Government, this platform is a not-for-profit initiative to encourage and incentivise Irish businesses to assess their impacts and dependencies on biodiversity, with a view to mitigating and availing of associated risks and opportunities respectively.




The Biodiversity Handbook for Business

The Biodiversity Handbook for Business

Business in the Community Ireland is a movement for sustainable change in business. Its purpose is to inspire and enable businesses to bring about a sustainable, low carbon economy and a more inclusive society where everyone thrives. Download its handbook to read the business case for biodiversity, case studies and access practical tips, key contacts and resources for biodiversity action.





Business and Biodiversity Charter

Business and Biodiversity Charter

In Northern Ireland, Business in the Community has created a Business and Biodiversity Charter as a framework for businesses to engage with biodiversity. The Charter is based around a staged approach, and is applicable to all organisations from micro-businesses to large facilities owned by multi-national companies.




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Natural Capital Accounting in 3 minutes

This video breaks down the concept of natural capital accounting, showing how accounting for nature can help reveal many of its hidden values.





TrainingResources-We Value Nature

We Value Nature is an EU Horizon 2020-funded three-year campaign (November 2018 –October 2021) to support businesses and the natural capital community to make valuing nature the new normal for businesses across Europe:

  •  Support the natural capital community and sharing research, resources and best practice.
  •  Help businesses improve their risk management, communication with investors, stakeholder engagement and anticipation of future legislation.
  •  Make a difference by targeting businesses and barriers where we expect to make the greatest impact. 

Partners of We Value Nature are: 




Business for Nature is a global coalition that brings together business and conservation organizations and forward-thinking companies. 

It works with more than 70 international and national partners and a diverse group of businesses from all sectors, sizes and geographies. It encourages companies to commit and act to reverse nature loss, and advocate for greater policy ambition. Its Strategic Advisory Group ensures its work is grounded in real business and act as ambassadors for the coalition.

"Together, we demonstrate credible business leadership on nature and amplify a powerful leading business voice calling for governments to adopt policies now to reverse nature loss this decade."





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Accounting for Nature

Hear from Pat Costello, former Chief Executive of Chartered Accountants Ireland, and management consultant since July 2017. Pat is also a Board Member of our Lady’s Hospice and Care Service, a member of the Audit Committee of the Gaelic Athletic Association, a Board Member of the Policing Authority and a board member of the Irish Forum on Natural Capital.



See also Articles, Podcasts and Webinars

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