The ‘corporate natural capital accounting’ (CNCA) framework was developed by eftec for the Natural Capital Committee in England. CNCA is akin to a financial balance sheet for natural capital assets, comparing the value of natural capital benefits to the cost of maintaining these benefits. It is particularly suited to land-owning or managing organisations.
This year, the method has been applied for the first time at a large scale, by Forest Enterprise England to the Public Forest Estate (around 254,000 hectares; approximately 1% of England) and the Duchy of Cornwall to its rural estate (around 55,000 hectares). The natural capital accounts developed for these organisations has built on their existing financial accounting and property management systems and data. It has provided a valuable experience about the application of the method, and insights for the organisations that have improved strategic thinking about natural capital and other capitals (e.g. social, physical) including understanding risks and opportunities associated with the management of natural capital and better communication with internal and external stakeholders.