Our Natural Capital Protocol Toolkit complements the Natural Capital Protocol. It helps business use the Protocol by consolidating the wealth of tools, methodologies and approaches available for natural capital measurement and valuation; and mapping them against the Protocol’s international, standardized framework.
Although the Natural Capital Protocol offers a standardized framework for business to measure and value its natural capital impacts and dependencies, it doesn't prescribe any particular approach or methodology. This is an important element of flexibility, but it can create confusion for companies who are new to natural capital assessments, or to those who want to improve. Companies need help to understand what will work best for them, and which tools are available to help them.
The Natural Capital Protocol Toolkit helps experienced companies match their existing approaches against the Protocol. It help inexperienced companies build their awareness of the tools that can help them implement a natural capital assessment. It also provides deeper guidance on how existing approaches fit into the Protocol framework.
We have partnered with the Natural Capital Coalition on the development of the Toolkit and are advised by an open, multi-stakeholder Advisory Group. Over time, the Toolkit may help identify market preferences and lead the push towards more generally accepted, standardized and prescriptive methodologies. This would allow for comparability of results in the future.