Natural capital accounting goes hand-in-hand with natural resource management (NRM) because nature is at the centre of what we’re all working with. Natural resource managers, including farmers, indigenous groups and conservationists, are all well aware of the benefits that nature is providing economically, environmentally and socially. They are also well aware of its role in securing increasing yields, improving incomes and securing environmental outcomes.
Natural capital accounting provides the common language and standard reporting framework for communicating information about these connections between people and nature. As a result, accounting can provide a pathway for bringing this joined-up, integrated thinking into decision making beyond the NRM scale, especially into economic and financial decisions.
We recently supported a fantastic event with NRM Regions Australia to discuss how NRM organizations might take advantage of the potential of accounting.
The two-day workshop in Canberra in late April covered natural capital accounting and financing mechanisms. Attended by representatives of NRM organisations from around Australia, it was a great opportunity to take the conversation about natural capital accounting for NRM to the next level.
IDEEA Group Director, Carl Obst, hosted a panel on natural capital accounting and then ran two table exercises with the group. Throughout the day, the learnings for NRM representatives created new opportunities for discussion and understanding, and reduced some of the complexity of the topic.
We look forward to talking to more NRM organisations about natural capital accounting and the role that it can play in effectively telling organisational stories.
NRM Regions Australia has been working with IDEEA Group to communicate effectively about the relationships between natural capital accounting and what NRM organisations are aiming to achieve.
You can visit their website to download natural capital accounting resources and watch a recent webinar presented by Carl Obst.