Sure, it’s important to have a strong financial base for a company, but that only tells part of the story. Looking at the corporate social responsibility documents can tell a bit more of the tale, but again, it’s only a small part of the big picture.
To truly see a ‘holistic’ accounting of a company’s presence, both for their own internal planning and for outside investors or partners and customers, natural capital accounting can help bring the rest of the frame into focus, and provide another piece of the sustainability thinking puzzle.
And now thanks to Climate Earth, there’s a cloud-based tool to help make that part a lot easier, by providing a comprehensive, data-driven insight into the hidden costs of supply chains and operations. It’s called, naturally enough, the Natural Capital Management System.
“Natural capital is the underpinning of modern society. Some companies have started to employ natural capital accounting in a business context to gain insight into their environmental impacts normalized to a common monetary unit. Climate Earth’s Natural Capital Management Systems (NCMS) help companies go beyond accounting to action-oriented management.” – Climate Earth
The NCMS can allow companies to see details of their business in terms of natural capital and attaches a dollar value to elements that are not normally accounted for, so that they get translated into something more tangible and quantifiable. Considering that natural capital costs are associated with every aspect of a company’s business, from supply chain to transportation to sales, having access to consistent and precise data on those costs can lead to a stronger and more profitable business.
“Visibility and insight are important, but the real value lies in the actions that result. A real understanding of natural capital costs in your own business terms provides an opportunity to manage them effectively. Are there hidden natural capital dependencies embedded in non-essential areas of your business? Is there an opportunity to engage your vendors in a supplier survey to refine the results? Interactive NCMS dashboards give you a chance to take control of your natural capital costs.” – NCMS
[h/t to Triple Pundit]