ESG2310. Accounting for Nature

Responsible stewardship of nature is essential to society’s well-being. Businesses rely on natural resources as inputs for production throughout their value chains and their business activities affect nature. This session introduces what nature change means for business including how business activities impact nature loss and the risks and opportunities businesses face through their dependency on nature. Regulators and investors are interested in how companies manage the financial impacts of nature. The session will cover the regulatory landscape around nature and the various standards and frameworks to report on nature-related risks and opportunities. The session will also explain natural capital accounting which enables measurement of the contribution of the environment to the economy or business and the impact of the economy or business on the environment. This session will cover the steps necessary for companies to get started on their nature journey.

Learning Objectives:

• Identify how nature is increasingly important in business considerations
• Recognize the regulatory landscape around nature and the various voluntary nature-related reporting frameworks
• Recall the building blocks of natural capital accounting.
• Recognize the steps to developing a plan for nature action.