Natural Capital Initiative


The Natural Capital Initiative is a partnership of UK organisations which promotes and supports decision-making across government, business and the private sector that results in the sustainable management of our natural capital. Formed in 2009, it is a partnership between two of the UK's learned societies and two of its scientific research institutes, namely:
Its stated mission is "to support decision-making that results in the sustainable management of our natural capital based on sound science". It aims to provide decision-makers from UK government, academia, business, and civil society with a high-level forum for cross-sectoral dialogue on how to realise the UK government's stated objective of embedding natural capital thinking in policy and practice, and it does this based upon sound evidence from across the natural and social sciences.
The four main objectives of the Natural Capital Initiative are to:
The NCI was established in 2009 in response to the increasing global awareness of the need for more sustainable management of the world's limited natural resources, as highlighted by the 2005 Millennium Ecosystem Assessment. It was launched in April 2009 at a three-day symposium held in London, entitled Valuing our Life Support Systems. Its conclusions were published in August 2009.
In 2012 the James Hutton Institute announced it was joining the partnership.
In November 2014 the NCI held a second major symposium/summit, entitled: ‘Valuing our Life Support Systems’ with the aim of pushing forward the shared natural capital agenda.
The Chair of the NCI is Professor Alison Hester of the James Hutton Institute

Influence

The Natural Capital Initiative has been recognised as one of the key groups or organisations in the UK now examining the main issues surrounding the depletion of natural resources and in encouraging the preservation of natural capital.
Its 2009 symposium recommendations are included in the UK government own recommendations and resource documents to senior policy-makers.
In recent years the NCI's support for the development of high-level policy based on sound science, and in line with an ecosystems approach to decision-making, has transferred into reality in a number of ways. In particular, the Natural Capital Committee, supported by DEFRA, evolved out of the UK Government's 2011 'Natural Environment White Paper', as did the 48 Local Nature Partnerships now established across England which focus on sustainable land management, greening economic growth and human health and wellbeing.
In 2014 the NCI called on the UK government to introduce a natural capital accounting element into its national accounting framework, and supported the Natural Capital Committee's own proposal for a 25-year Government plan for the UK Natural Environment, which is now under development.
In 2015 the NCI published a symposium report, entitled 'Valuing our Life Support Systems', which was launched at a parliamentary event on 25 June. The launch was chaired by Barry Gardiner MP. The report spelled out the need for a methodology to be established for valuing natural capital. It also raised concerns there was a danger that natural capital could be treated as a commodity unless an ethical framework was in place to ensure the process of natural capital valuation was applied fairly and evenly. It urged that all natural capital concepts needed to be clear, evidence-based and robust, and it welcomed the Government's proposal to extend the life of the Natural Capital Committee until at least the end of that current parliament.

Publications

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