Major global companies including Coca-Cola, Dow Chemical and Shell will begin testing the Natural Capital Protocol, which aims to help businesses improve their decision making by standardizing how their relationship with nature is measured and valued.
The Natural Capital Coalition released the latest draft of the Natural Capital Protocol, yesterday. The Cambridge Institute for Sustainability Leadership (CISL), a member of the Coalition, will lead the testing program.
Ten businesses will test the Protocol in depth: Coca-Cola, Dow Chemical, F. Hoffmann-La Roche, Hugo Boss, Kering, Natura, Nespresso, Nestlé, Olam International and Shell. Each will test the Protocol against specific business applications, including: assessing water use opportunities and risks in site specific locations (Dow); identifying the drivers of environmental impacts along the supply chain to inform raw material procurement strategies (Hugo Boss); investigating how natural capital assessments can potentially enhance the management and reporting of environmental issues (F. Hoffmann-La Roche); and exploring how to bring natural capital assessment results into strategic business decisions (Kering).
More than 30 additional businesses are testing specific aspects of the Protocol, including a range of different geographies and sectors.