New name for Natural Capital Declaration
The Natural Capital Declaration (NCD), the leading global finance-led initiative convened by the Global Canopy Programme (GCP) and the UN Environment Programme Finance Initiative (UNEP FI) announced at UNEP FI’s Global Roundtable in Dubai in October that its name is changing to the Natural Capital Finance Alliance (NCFA), with immediate effect.
Marie Morice, Head, Natural Capital Finance Programme, NCFA and GCP said “Since the NCD’s launch in 2012 the focus of our work has changed considerably. By changing our name to the Natural Capital Finance Alliance (NFCA) this better represents the unique nature of our work in actively engaging and collaborating with financial institutions to better understand natural capital risks, pursue opportunities and establish the foundation for resilient long-term economic growth that protects nature and societies.”
Despite the name change, all new financial institutions joining the NCFA will still be required to sign up to the Natural Capital Declaration and commit to integrating natural capital risks and opportunities into their products and services. Read the .
Understanding natural capital risks and opportunities: Finance Sector Supplement to the Natural Capital Protocol
Also announced at the key sustainable finance event in Dubai, a tool that will provide the guidance and insight required for financial institutions to integrate natural capital considerations into all financial products and services; including loans, investments and insurance policies.
The Natural Capital Coalition, the Natural Capital Finance Alliance (NCFA) (formerly the Natural Capital Declaration), and the Dutch Association of Investors for Sustainable Development (VBDO), have partnered to jointly produce a Finance Sector Supplement (hereafter the “Supplement”) to the Natural Capital Protocol. The Natural Capital Protocol, released in July 2016, is a decision making framework that allows organizations to identify, measure and value their direct and indirect impacts and dependencies on natural capital.
The Supplement will help Financial institutions who are looking to better understand the natural capital risks and opportunities associated with their direct operations, as well as their investment, lending and insurance portfolios. .