The Natural Capital Committee (NCC) was one of the headline commitments in the Government’s Natural Environment White Paper. It was established in May 2012 as an independent advisory body to Government. It formally reports to the Economic Affairs Committee of the Cabinet Office and published its first State of the Natural Capital report on Monday 8th April.
Natural capital refers to the elements of nature that produce value or benefits to people (directly and indirectly), such as the stock of forests, rivers, land, minerals and oceans, as well as the natural processes and functions that underpin their operation. We rely on Natural Capital for food, energy, clean air and clean water as well as countless other inputs into the production process and our wellbeing.
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A key message from the report is that:
- Natural capital assets are in decline and these trends should be measured.
They recommend that:
- Changes in natural capital should be properly included in national and corporate accounts
- Changes in natural capital should be properly valued and those values more effectively included in decision-making processes.
- Stewardship of natural capital is good for growth
The report sets out a framework that will help natural capital to be included in economic decision-making and the work that the Committee plans to undertake.
To read the report go to http://www.defra.gov.uk/naturalcapitalcommittee/files/State-of-Natural-Capital-Report-2013.pdf .
