Guide to help business assess environmental impacts
A new guide has been published to help companies account for the impact their businesses have on the environment.
The Corporate Ecosystem Valuation (CEV) was developed by the World Business Council for Sustainable Development (WBCSD) and PricewaterhouseCoopers (PwC).
The guide provides a framework for businesses to understand the full value of ecosystem impacts and inputs, such as the cost of water or land use. It helps to measure the benefits of ecosystem assets and the costs of ecosystem loss.
For example, it cites the cost of deforestation worldwide as being worth US$ 2-4 trillion annually.
The framework provided by the guide has been piloted by 14 companies including Rio Tinto and Veolia Environment.
The guide assists companies in assessing environmental risks and whether stakeholders need to be compensated.
It explores the potential revenue opportunities in carbon, water and biodiversity and the potential impacts of regulation.
PwC, partner, Jon Williams said: "The guide is linking ecosystem service opportunities and risks more directly to a business's core operations, supply chain and financial bottom line.
"It's not just consumer, or reputational pressure on businesses to get to grips with their full environmental impact, this is a reality that international businesses have to face up to right now to secure resources."
You can read the guide on the WBCSD website. Alison Brown