Pace Environmental Notes, the weblog of the Pace University School of Law’s Environmental Collection, is a gateway to news, recent books and articles, information resources, and legal research strategies relevant to the fields of environmental, energy, land use, animal law and other related disciplines.
Friday, March 29, 2013
TEEB Report Released: Organizational Change for Natural Capital Management: Strategy and Implementation
This month, The Economics of Ecosystems and Biodiversity (TEEB), a "a global initiative focused on drawing attention to the economic benefits of biodiversity" released its report Organizational Change for Natural Capital Management: Strategy and Implementation (2013). The 47-page document available here, discusses the following:
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.
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