Publication of the new standard – BS 8632 Natural Capital Accounting for Organizations – Specification – comes just a week after the G7 finance ministers endorsed the launch of the Task Force on Nature-related Financial Disclosures (TNFD). The taskforce has committed to delivering a framework by 2023 for organisations to report and act on evolving nature-related risks, to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes.

BS 8632 offers a systematic way for companies and other organisations to create a ‘natural capital balance sheet’ and ‘natural capital income statement’ that can be integrated with their financial accounts.

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