1. Introduction

Recognising Australia’s natural resources as assets can help drive investment that sustains the country’s food security and biodiversity.

The widespread adoption of innovative and sustainable land practices relies on measuring and valuing environmental ‘assets’ to encourage the adoption of best practices. ‘Natural capital’ has both financial and non-financial value, it encourages sustainable land practices. There is already an extensive knowledge base and capability amongst farmers and their representatives, government, the research community, and intermediaries including natural resource management (NRM) organisations. But there isn’t currently a comprehensive and consistent set of  natural capital measures to support widespread adoption of natural capital measurement across Australia.

What we’re doing

As part of Climateworks’ Land Use Futures initiative, two priorities were identified by stakeholders for enabling widespread measurement of natural capital: creating a comprehensive set of natural capital measures and options for incentivising natural capital measurement at the property level. The Natural Capital Investment Initiative is focused on helping to create the tools and resources to support farmers and land managers across Australia efficiently measure their natural capital.

2. How we'll get there

1

Develop measures

Create a proof-of-concept Natural Capital Measurement Catalogue that outlines a comprehensive set of natural capital measures

2

Test the measures

Engage external stakeholders to test, validate and refine the Natural Capital Measurement Catalogue

3

Explore incentives

Pilot incentive programs for supporting natural capital measurement at the property level

4

Scale up

Through targeted events, communications and reports highlighting progress, including our first major milestones: hosting the Natural Capital Summit and publishing the Natural Capital Roadmap report

3. Resources

Natural capital measurement enabled by new reference catalogue

Natural Capital Measurement Catalogue (NCMC) Version 1.0 aims to provide a consistent reference source for a comprehensive set of natural capital metrics and methods.

  • Food, land and oceans

Natural Capital Measurement Catalogue

The Natural Capital Measurement Catalogue version 1.0 is available at naturalcapitalmeasurement.org Version 1 of the Natural Capital Measurement Catalogue (NCMC)  is an open resource that presents metrics and methods for the measurement of natural capital assets, flows of services or benefits, and organisational impacts or dependencies on nature.

Aligning our work on the natural capital measurement catalogue with the global Taskforce on Nature-related Financial Disclosures

This week, the Taskforce on Nature-related Financial Disclosures (TNFD) released the final prototype of its beta framework.  Driven by a need to make nature visible in decision-making, the TNFD has emerged as a framework for businesses to act on nature-related risks and opportunities.  The TNFD is a voluntary, market-led approach that will see companies quantifying the dependencies and impacts of their activities on nature.  The framework is currently being developed by a global network of 40 representatives, with a consultative group of over 900 institutional supporters, from financial institutions, corporations and market service providers.

  • Blog
  • Food, land and oceans

There’s no path to net zero without nature

Our recent Briefing Room event explored the relationship between land use and nature.

  • Blog
  • Food, land and oceans

The briefing room: The twin challenge of tackling climate change while preserving nature

To limit warming to 1.5°C we need global emissions reduction as scale.

  • Australia

Building Australia’s natural capital

Responding to audience questions during our recent Climateworks webinar, the second article in our series outlines the challenges and benefits to measuring our natural assets and the services they provide.  Our world’s natural areas are under significant threat as demand for land for agriculture and urban development rises.

  • Australia
  • Blog

Natural capital investment initiative – Phase 1 report

Globally, there is increasing recognition of the importance of protecting and restoring nature in order to mitigate climate change impacts.

Natural Capital Investment Initiative to accelerate, thanks to a multi-year funding commitment

Agriculture businesses working to improve natural capital, while reducing emissions, will be able to test common measurement frameworks and new incentives under the next phase of the Natural Capital Investment Initiative, which has secured three years of funding from the Macdoch Foundation.

  • Media
  • Food, land and oceans

Land use futures publishes natural capital roadmap

The Natural Capital Roadmap presents the ideas of over 300 leaders in farming, forestry, natural resource management, conservation, finance, policy, research and government on how to progress the natural capital agenda in Australia.

  • Australia
  • ClimateWorks news

Land use futures team hosts natural capital summit

In early June 2019, the Land Use Futures team – working with NAB and the Queensland State Government – ran the Natural Capital Summit, as part of ClimateWeek QLD 2019.

  • Australia
  • ClimateWorks news