To ensure accurate, comparable and scientifically sound quantification of the impacts of productive and conservation activities on natural and social capital in order to enhance valuation, accounting and management, through the deployment of impact assessment and monitoring systems and their respective management and reporting tools.
This Work Stream focuses on the development of quantifiable and universal species and ecosystem-level metrics and indicators to improve existing impact assessment and measurement techniques used and accepted internationally, including:
- life-cycle assessment, product environmental footprints, environmental declarations, product category rules, as well as other sector-specific models
- resource assessments and non-detriment finding models
- natural and social capital accounting models
The work stream also places important emphasis on the creation and improvement of management and reporting tools that empower businesses, policy-makers and scientists to analyse and make effective use of the information being produced for more informed decision making and consumption.
Quantifiable and universal metrics for biodiversity, ecosystem services and socio-economic impacts will support the identification of the most significant impacts and make them more meaningful and digestible for a broader audience.
Monitoring systems will help to address dynamic changes over time by assessing and reporting the status, progress, efficiency and performance of implemented actions.
Having sound and evidence-based information will allow for the translation of environmental indicators into economic terms, permitting environmental impacts to be factored into decision-making to improve management, increase resilience against natural and human-induced shocks and define the hotspots requiring corrective or augmentative actions.
• Local communities
Local communities will be able to attain greater support and recognition for their crucial role as stewards of biodiversity through increased know-how and the capacity to quantify and monetise efforts related to sustainable use and conservation activities. This in turn, will help ensure better economic terms for their products based on this added value.
Industry will improve its decision-making and management of natural and social capital, enhancing its ability to monitor progress, report and communicate on actions, challenges and impacts with the backing of sound and timely scientific data. This will result in increased resilience against shocks and ensure long-term access to valuable resources.
• Government (policy makers)
Policy makers will improve the management of their country’s natural and social capital and enhance their ability to make decisions, monitor progress, report and communicate on actions, challenges and impacts with the backing of sound and timely scientific data. This will result in increased ability to formulate effective environmental, economic and social development policies and regulations in favour of sustainable and inclusive economic models.
• Nature (biodiversity)
The ability to assess and monitor impacts at the species and ecosystem levels and to take appropriate actions will support the maintenance of biodiversity and enivronmental health by improving resource and land management. It will also provide a means to quantify the value of biodiversity and provide more concrete data to justify its conservation and sustainable management.