Www.naturalcapitalforum.com Natural Capital: concepts & trends Jonathan Hughes CEO, Scottish Wildlife Trust Founder, World Forum on Natural Capital.

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Presentation transcript:

Natural Capital: concepts & trends Jonathan Hughes CEO, Scottish Wildlife Trust Founder, World Forum on Natural Capital

“ Natural Capital is the stock of natural ecosystems on Earth including air, water, land, soil, biodiversity and geological resources. This stock underpins our economy and society by producing value for people, both directly and indirectly.” Draft Natural Capital Charter, 2015

Government policy ideas What mechanisms are available? Why Natural Capital?

Why Natural Capital?

“By 2050 agricultural production will grow by about 60%, with increasing wealth projected to boost annual demand for meat products by 76%” FAO, 2012

“will require a short term increase in the global food crop area of about 1 million km 2 ” OECD, 2012

“palm oil plantations alone set to increase from around 6 million hectares to 20 million in 2030, mostly at the expense of forest [and peatland]” UNEP, 2009

“Over half the world’s river basins, containing 2.7 billion people, face water scarcity at least one month per year” Hoekstra et al, 2012

“Business as usual not an option” World Forum on Natural Capital, 2015

Monocultures don’t pay TEEB, 2010

Natura, Brazil palm oil case study TEEB for Business, Brazil, 2014

Moral pleading Socio-economic imperative

What mechanisms are available?

State led natural capital valuations & mapping Radical subsidy reform - pay for goods not bads Biodiversity and other offsets Corporate natural capital accounting (Natural Capital Protocol) Credit risk ratings & Natural Capital risk exposure Investor policy shifts – the cost of capital 3. Emerging mechanisms

Government policy ideas

Government’s Purpose Characteristics of Prosperity Path Foundations of Prosperity Economic Policy Priorities Refresh Themes Flourishing Scotland Competitiveness EqualitySustainability Natural Capital Economic Capital Social Capital Innovation Investment Internationalisation Inclusion Economic Strategy Low Carbon & Circular Economy Productive Resources & Capital Well Qualified & Highly Skilled Workforce Access to Fairly Paid Jobs Community Empowerment & Regional Development Innovation & Global Outlook

Public policy priorities? Five best options to leverage business Feasibility Investments in natural capital Standards and certification National green accounting Green public procurement Payments for ecosystem services Offsets and no net loss Tax and fiscal incentives Subsidy reform Protected/ managed areas Efficiency and effectiveness World Business Council for Sustainable Development /OECD 2012

Ecosystem Health Indicators

Source: Healthy Waterways 2013, Queensland, Australia Importance of spatial scales

Priorities for Government Action Valuation Value and map Natural Capital at both local catchment and national level Use sound science to develop Ecosystem Health Indicators and targets at catchment and national level Collaboration Create forums where public & private sector, NGOs and communities work together to identify biggest risks and investment needs Public finance institutions work with ratings agencies and others to create finance products which internalise Natural Capital externalities Recovery Relentlessly focus investment on key systemic threats to Natural Capital stock depletion - catchment by catchment Better regulation and implementation to protect Natural Capital from private, short-term plunder

Thank you See you all in November 2015 in Edinburgh at the 2 nd World Forum on Natural Capital!