Trucost - Putting a Price on Natural Capital
THE INNOVATION:
Putting a price on natural capital, and developing frameworks for applying that into business settings; meanwhile, watching closely the state and value of the natural capital on which business depends.
Libby Bernick
Senior VP, North America
Trucost
www.trucost.com
Introduction...
We’ve developed frameworks for applying that into business settings, to measure risk, find opportunity, and speak about sustainability in terms your business colleagues can understand.
A way to unlock opportunity….For example, if you are a business that bottles beverages, then it is in your interest to understand … where there will be less risk to business. For example, by knowing which kinds of fruit need the most water, and which are grown in areas of risk, [one of our clients has] been able to lock in a strategic contract… so that they’ll have a secure source.
TruCost and the Green Business Narrative...
Trucost was formed about 13 years ago, and since that time we’ve been measuring and tracking all of these [sustainability] indicators, and we’ve been working with investors to help them understand the risks... and working with businesses to help them understand the opportunities [that come from looking through] this financial lens. So to now have GreenBiz use this [in the green business narrative]…. We think this is exciting
We believe that by putting sustainability into terms everyone can understand, it will spur sustainability progress.
When I talk about gallons of water, or kilograms of carbon, it doesn’t always mean much to a lot of people. But everyone understands what the dollar is… It is the language of business, but it is also the language of many parts of civilization.
Words of Wisdom...
Given our experience, I would say that slow and steady and persistent progress is what’s important… and helping people understand why putting a price on nature is important, it doesn’t always happen overnight. But then a step-change happens, like at GreenBiz.
See Libby's bio at GreenBiz.com
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