International Business, Government and Civil Society Leaders Join Forces in Global Forum for Valuing Natural Capital

11/5/2012

 
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 policy.

 
“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.

 
For more information, visit www.TEEBforbusiness.org 

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