The accountant’s role in managing natural capital – resources like water, land, minerals, and oceans – is explained by ACCA (the Association of Chartered Certified Accountants) in a new video and accompanying guides for business leaders, performance managers, corporate reporters and auditors and assurers.

In Professional accountants changing business for the planet: A guide to natural capital management, ACCA advises that accountants should begin the journey to understanding their natural capital risks and opportunities by connecting their organisation’s value chain to its areas of natural capital dependency and impact.

A strong sustainability governance framework should also be put in place, that integrates with the organisation’s strategy, risk management, systems and staff development.

Sharon Machado, portfolio head of business reporting and author of the guides explains: ‘For many professional accountants, formulating and executing natural capital strategies is likely to be a new experience, and a journey, that involves several key steps. So this series helps professional accountants to change business for the benefit of the planet, by providing simple and practical explanations about the process. It includes case studies, alongside links to other helpful external resources from organisations such the Capitals Coalition and the Convention on Biological Diversity.’

Further information can be consulted here.