As key contributors to both the global economy, accounting for 3.9% of global GDP in 2018, and the health of our planet, how food and agriculture companies report on their biological assets and agricultural produce (both also known as “natural capital”) has wide-reaching implications.

Given this, the International Accounting Standards Board (IASB) mandates IAS 41 Agriculture for companies in most countries around the world. IAS 41 is a trigger for companies, in their audited quarterly and annual regulatory filings, to report on the fair value of their biological assets and agricultural produce.