Monday 11 December, 2023

New organisation hopes to transform agriculture's role in the 'natural capital century'

The Trinity Natural Capital Pro Council has been created to develop a ‘new trusted natural capital valuation, accounting, and reporting framework’

clock • 2 min read
The Trinity Natural Capital Pro Council has been created to develop a ‘new trusted natural capital valuation, accounting, and reporting framework'
Image:

The Trinity Natural Capital Pro Council has been created to develop a ‘new trusted natural capital valuation, accounting, and reporting framework'

A new membership organisation has been created with the hope of ushering in the ‘natural capital century' to help transform the prospects of agriculture and the way people live.

Chavereys, Fisher German, Knight Frank, Mills and Reeve, Oxbury Bank, Royal Agricultural Society of England, Saffery, Scottish Land and Estates and Trinity Natural Capital Group, the Pro Council have joined forces to create the Trinity Natural Capital Pro Council to develop a ‘new trusted natural capital valuation, accounting, and reporting framework'.

See also: Harnessing the potential of natural capital

Dr Hosein Khajeh-Hosseiny, chairman of Trinity Natural Capital Group, said the new framework will help facilitate the redirection of a significant amount of global capital into farming.

"Gold once drove explorers and economies, but in today's world, natural capital is our most vital commodity; it's the currency of the future," Dr Khajeh-Hosseiny added.

See also: Podcast: Is trading natural capital all it's cracked up to be?

"We are stepping into the natural capital century and we will see natural capital and its custodians move from the sidelines to take centre stage in our economy.

"This will deliver financial and environmental progress in farming at pace and scale.

See also: Farming with nature: Getting to grips with trading natural capital

"This is something that is currently beyond the grasp of UK agriculture, which is putting farmers, rural communities, food supply chains, the environment, and the economy at risk."

Dr Khajeh-Hosseiny said a robust and trusted framework for natural capital reporting and accounting was imperative to capitalising on history's most ‘substantial capital realignment'.

See also: Green belt can boost farming and nature not just housing targets, says new report

He added: "Our current trajectory sees natural capital depletion threatening our economic fabric, with seven of the eight essential planetary boundaries already breached.

"It is also projected we will need to feed 10 billion people by 2050.

See also: Getting the best from nature

"To capitalise on this opportunity and to avoid the excessive risks tied to further postponing or mishandling this important transition, a robust and trusted framework for natural capital reporting and accounting is imperative."

Nick Holmes, from rural accountancy firm Chavereys said natural capital is the ‘nucleus of economic activity and sustainability' and added it should sit at the core of financial reporting in a measuring and professional manner to avoid ‘greenwashing'.

See also: Farmland prices continue to rise as farmers incorporate natural capital

FARM LOANS & RE-MORTGAGES

FARM LOANS & RE-MORTGAGES

VIEW ADVERT
£POA

TOWNSEND CHARTERED SURVEYORS

TOWNSEND CHARTERED SURVEYORS

VIEW ADVERT
£POA

Richmond Asset Finance

Richmond Asset Finance

VIEW ADVERT
£POA

More on Farm Business

More organic farming helps Government deliver environmental goals, says Organic Farmers & Growers

More organic farming helps Government deliver environmental goals, says Organic Farmers & Growers

OF&G said a 'three fold increase' in organic land use area would reduce total agriculture-related greenhouse gas emissions equal to the carbon sequestered by third of million acres of broadleaved woodland

clock 11 December 2023 • 2 min read
Data key to sharing sustainability story, says M&S

Data key to sharing sustainability story, says M&S

Speaking at CLA conference, she said the most important thing was collaboration, shared risk and working with the supply base, and ultimately the farmers, to build business resilience

clock 09 December 2023 • 2 min read
Prime Minister Rishi Sunak annouced cancellation of HS2 in October

Farmers left 'suicidal' amid ongoing HS2 chaos

MPs told Government is 'dragging its heels' over promises to re-sell land and clear sites following HS2 cancellation

clock 07 December 2023 • 3 min read