Climateworks Centre has launched a world-first resource to support the consistent measurement of natural capital, which fuels over half of Australia and the world’s Gross Domestic Product (GDP). 

The Natural Capital Measurement Catalogue (NCMC) is a user-friendly, open source, scientifically rigorous resource developed by Monash University’s Climateworks Centre, over four years alongside experts, industry, government and research stakeholders.

Climateworks Centre Natural Capital Program Manager, Eithne Cahill said that there has been no agreed way to measure natural capital in Australia, until now. 

‘Natural capital is the value of everything that comes from nature – soil, air, water and all living creatures. It provides the foundation for human life and economic activities,’ she said.

‘More than half of the world’s Gross Domestic Product (GDP) is moderately or highly dependent on nature and its services. In Australia, that figure is roughly half ($896 billion) of GDP.’ 

The Catalogue launch comes as world leaders and experts gather in Colombia for the 16th global United Nations Biodiversity Conference of the Parties (COP16). 

‘For the agricultural value chain, businesses from individual producers to processors and beyond who want to better understand, measure and report their natural capital can look to the NCMC for guidance,’ said Justin Maroccia, senior researcher at the Australian Farm Institute.

‘Version 2.0 of the NCMC is a welcome update and an impressive evolution of the Catalogue that will help more users realise the value in this resource.’

Climateworks Centre Food Land and Oceans Lead Liam Walsh said: ‘The NCMC includes measures that can help those that own or manage land – farmers, mining companies or governments – to understand the extent, condition and benefits of their natural assets.’ 

‘It can also help all organisations to better measure how their activities impact, or depend on, nature.’ 

‘Measuring natural capital is a huge opportunity for Australian businesses, the economy and governments at all levels.

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