Dr Joshua Bishop (Former Chief Economist, IUCN and National Manager, Markets, Sustainability and Business Partnerships WWF Australia) - Presentation at the United Nations Association of Australia (Victorian Division) Business, Biodiversity and Ecosystem Services: Valuing the Earth's Natural Capital Seminar held in Melbourne, 20 September 2012, in partnership with National Australia Bank. Building momentum for collective action post-Rio+20, the seminar brought together key players from business, government and civil society to discuss the challenges and opportunities in measuring the true value of nature and enhancing natural capital as a critical economic, ecological and social asset. An expert panel addressed: The Natural Capital Declaration and the finance sector Australian Government perspective on natural capital and sustainability: current priorities, measurement and where Australia can make a difference Business and biodiversity: valuing natural capital and ecosystem services in practice The Economics of Ecosystem Services and Biodiversity (TEEB for Business) The System of Environmental - Economic Accounts (SEEA) Integrating the valuing and management of environmental assets into business and government decision-making processes Experiences and opportunities for cross-sector collaboration Guest speakers: Rosemary Bissett (Head of Sustainability Governance and Risk, Enterprise Risk, National Australia Bank) Malcolm Thompson (Deputy Secretary, Australian Government Department of Sustainability, Environment, Water, Population and Communities Stuart Anstee (Chief Adviser, Biodiversity and Ecosystem Services, Rio Tinto) Dr Joshua Bishop (Former Chief Economist, IUCN and National Manager, Markets, Sustainability and Business Partnerships, WWF Australia). Charles Berger (Director of Strategic Ideas, Australian Conservation Foundation) Facilitator: Rosemary Sainty (Former Head, Secretariat UN Global Compact Network Australia and Adviser, Corporate Engagement, Transparency International Australia) More information available at: http://www.unaavictoria.org.au/education-advocacy/masterclasses/natural-capital-seminar/

1. The Economics of Ecosystems and Biodiversity
(TEEB)
www.teebweb.org

2.
TEEB on a T-shirt (almost)
• Biodiversity and ecosystem services (BES or “natural capital”) have
significant economic value, even if it is sometimes intangible
• Environmental damage is widespread, accelerating, costly and
unjust (especially to the poor and to future generations)
• Environmental values and damages are economically “invisible” due
to externalities, missing property rights, lack of information, etc
• Reliable methods are available and increasingly used to measure
environmental values in economic / monetary terms, at all levels
• Market-based instruments are available and increasingly used by
governments to “internalize” the value of nature in economic policy
and public investment
• Practical tools are available and increasingly used by companies to
“mainstream” the value of nature in business strategy and operations
27 September 2012 - 2

3. 27 September 2012 - 3

4.
Selected WWF corporate partners (2011-12)

5. Why are we doing this?
• Beef and Sugar: The second biggest threat to the Great Barrier
Reef is agricultural run-off (Great Barrier Reef Marine Park
Authority, 2009)
• Forests: 9% of forest product imports to Australia have been linked
to illegal logging (Jaakko Pöyry Consulting, 2005)
• Palm Oil: Palm oil plantations are the primary cause of permanent
rainforest loss in Malaysia and Indonesia (UNEP, 2007)
• Seafood: 32% of the world's fish stocks are overexploited, depleted
or recovering (FAO, 2010)
27 September 2012 - 5

6. Market Transformation: Our approach
Finan
cial
Servic
es
27/09/12 - 6

7. WWF, Market Standards & Certification
Mature Developing Emerging
WWF 27 September 2012 - 7

8. Natural Capital Declaration
“We therefore call upon governments to ...
• Require companies to disclose the nature of their dependence and
impact on Natural Capital through transparent qualitative and
quantitative reporting”
27 September 2012 - 8

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11. 27 September 2012 - 11