CDSB has become a supporter of the Natural Capital Declaration (NCD), with the primary focus of building a global consensus around natural capital reporting requirements.
Read the press release here.
“We are pleased to count the Climate Disclosure Standards Board among the supporters of the Natural Capital Declaration”, says Ivo Mulder, Programme Officer for Biodiversity, Ecosystems Services and Water, UNEP FI and the Natural Capital Declaration , “A key pillar of the NCD’s work on integrating natural capital considerations into the financial sector rests on connecting this type of non-financial business reporting with financial reporting. The CDSB will play an important role in providing guidance as to how natural capital issues can affect or be of relevance to financial institutions.”
The NCD (convened by the Global Canopy Programme and the United Nations Environment Programme Finance Initiative) is a finance-led and CEO-endorsed initiative committing financial institutions to integrating natural capital considerations into financial products and services, accounting and reporting. Over 40 financial institutions are signatories to the Declaration and more over 20 supporter organisations which bring a range of expertise and capabilities.
NCD’s Liesel van Ast(Programme Manager, NCD) has also joined the CDSB Technical Working Group to bring natural capital expertise to CDSB’s work of expanding its Reporting Framework to include water and forest reporting.
Lois Guthrie, CDSB’s Executive Director states “Financial institutions have the power, influence and reach to develop the financial system so that it recognizes all resources on which financial and economic wealth depend and encourages reporting, accounting, stewardship, maintenance and restoration of natural capital in the global economy. The Natural Capital Declaration’s work on natural capital accounting and disclosure is vitally important to ensuring that risks and opportunities related to natural capital are understood in their financial products, services and supply chains.”