International leaders from business, government and NGOs gathered in
Singapore today to mark the launch of the new headquarters of TEEB (The
Economics of Ecosystems and Biodiversity) for Business Coalition which aims to
achieve a shift in corporate behavior to preserve and enhance, rather than
deplete the earth’s natural capital.
The Coalition brings together global stakeholders and partners, including
IUCN, to study and standardize methods for natural capital accounting to enable
its valuation and reporting in business.
This is the business application of the G8+5 and UNEP-supported TEEB
program, led by Pavan Sukhdev. It provides a compelling economic case for the
conservation of natural capital and is the cornerstone of current Green Economy
“At Conservation International, we believe that in order for us to move
forward we must add nature into the equation when we make development decisions.
It's essential for us to start valuing these historically undervalued
resources,” said Peter Seligmann, co-founder, chairman and CEO of Conservation
International. “I am proud to be a founding member of the TEEB for Business
Coalition. The establishment of this organization signals that we – as a global
community - are making real inroads towards more sustainable growth.”
The Coalition is a Not for Profit organization and has secured cornerstone
funding from the Gordon and Betty Moore Foundation, as well as from the United
Kingdom and Singaporean Governments. Headquartered in Singapore, it will provide
a growing knowledge hub in the Asia-Pacific region and internationally on
natural capital valuation in business.
The Coalition’s activities focus on global stakeholder engagement, focused
research and development of methods for natural capital accounting. Its founding
members have pioneered much of the science and business case for natural capital
valuation and accounting, providing a credible platform to take the business
application of this forward. These existing activities will be built on to
ensure the necessary stakeholders from business, government, support
organizations, academia and NGOs inform effective and pragmatic methods.
Also announced at the launch was the appointment of Dr. Dorothy Maxwell as
the Director for TEEB for Business Coalition. Dr. Maxwell joins the Coalition
with over 20 years’ professional experience working in the
environmental/sustainability arena in business, government and academia in the
EU, USA and Asia-Pacific.
The ceremony took place as part of the Responsible Business Forum on
Sustainable Development, which presented practical ways to accelerate solutions
for a more sustainable world while increasing business and industry growth. The
Forum serves as a platform for leading global companies to discuss deeper
integration of sustainability and social responsibility to deliver longer-term
business success. Forum participants took this opportunity to participate in
various discussions related to the Coalition and agreed next steps.