Organisational Change for Natural Capital Management: Strategy and Implementation is based on data from 26 businesses across nine industrial sectors (60 per cent of them with revenues of over US$10 billion), which are implementing behavioural and organisational changes to promote natural capital management.
The main findings of the study include:
- A small group of pioneering companies, who recognise the growing business case for NCM, are moving NCM forward and expect to build it deeply into their business within the next 3 years.
- Their rationale is that they will be much better positioned than other companies to manage and thrive in a resource-constrained world that could have serious implications for business in 3-5 years.
- Delaying the measurement and management of natural capital carries a significant business risk for companies regarding the availability of key raw materials and maintaining competitive advantage.
- In particular, the availability of freshwater, renewable energy, climate regulation, fibre and food were identified as the most important natural capital risks in the next 3 -5 years.
- Current barriers to change for business on NCM are at the macro-level (e.g. lack of government regulation and customer demand) and organisationally. In particular challenges at the organisational level include establishing the relevance of NCM to the business, and a lack of harmonised methods to measure, prioritise and integrate natural capital into business decision-making.
- NCM is a business innovation that changes business processes, practices, systems and strategies. It is therefore a major driver of organisational change.