Mainstreaming Natural Capital 2025
Page 20 of 23 · WEF_Mainstreaming_Natural_Capital_2025.pdf
21. World Bank. (2024). The Changing Wealth of Nations: Revisiting the Measurement of Comprehensive Wealth.
https://documents1.worldbank.org/curated/en/099100824155099751/pdf/P178446-c8271985-738f-49a7-9a96-
a3b1d66a002c.pdf.
22. Inter-American Development Bank (IDB) Group. (2024). IDB Group Launches Action Plan to Accelerate Natural Capital
and Biodiversity Inclusion in Development Projects. https://www.iadb.org/en/news/idb-group-launches-action-plan-
accelerate-natural-capital-and-biodiversity-inclusion.
23. Zheng, H. et al. (2023). Gross ecosystem product (GEP): Quantifying nature for environmental and economic policy
innovation. Ecological Civilization, Volume 52, pages 1952-1967. https://link.springer.com/article/10.1007/s13280-023-
01948-8#Sec80.
24. Eurostat. (2021). Accounting for ecosystems and their services in the European Union (INCA) — 2021 edition.
https://ec.europa.eu/eurostat/en/web/products-statistical-reports/-/ks-ft-20-002.
25. Joint Research Centre of the European Commission. (2024). Beyond Gross Domestic Product: including nature in
economic policy assessment. https://joint-research-centre.ec.europa.eu/jrc-news-and-updates/beyond-gdp-including-
nature-economic-policy-assessment-2024-05-27_en.
26. Natural Capital Project, Stanford University. (2024). InVEST. https://naturalcapitalproject.stanford.edu/software/invest.
27. Sources:
– Zheng, H. et al. (2023). Gross ecosystem product (GEP): Quantifying nature for environmental and economic policy
innovation. Ecological Civilization, Volume 52, pages 1952-1967. https://link.springer.com/article/10.1007/s13280-023-
01948-8#Sec80.
– Zhiyun, O., Zhu, C. and Yi, X. (2013). Gross ecosystem product: concept, accounting framework and
case study. Environmental Science, Economics. https://www.semanticscholar.org/paper/Gross-ecosystem-
product%EF%BC%9Aconcept%2C-accounting-and-Zhiyun-Chunquan/537ea35e04bcd740c0011ddedafb2fbda3819
be8.
– Shenzhen News Network. (2021). Yantian started and promoted it comprehensively! Shenzhen released the first GEP
accounting system in China. https://www.yantian.gov.cn/cn/zjyt/jjyt/mtbd/content/post_8645613.html
– Zhiyun, O. et al. (2020). Using gross ecosystem product (GEP) to value nature in decision-making. Proceedings of the
National Academy of Sciences of the United States of America. https://www.pnas.org/doi/10.1073/pnas.1911439117.
– Zhejiang Online. (2021). Deqing launches “Digital Two Mountains” GEP accounting platform. https://zjnews.zjol.com.
cn/zjnews/huzhounews/202106/t20210603_22620631.shtml.
– Earth Dialogue. (2024). Zhejiang counts ‘gross ecosystem product’ of nature reserve. https://dialogue.earth/en/digest/
zhejiang-counts-gross-ecosystem-product-of-nature-reserve/.
– Xinhua News Agency. (2021). The General Office of the CPC Central Committee and the General Office of the
State Council issued the “Opinions on Establishing and Improving the Mechanism for Realizing the Value of Ecological
Products”. https://www.gov.cn/zhengce/2021-04/26/content_5602763.htm.
– Kohli, Shivin. (2024). Counting the cost. China Daily. https://www.chinadaily.com.cn/a/202406/05/
WS665fad21a31082fc043caed1.html.
28. BHP . (2023). Natural Capital Accounting for the Mining Sector: Beenup site pilot case study . https://www.bhp.com/-/
media/documents/environment/2023/230502_bhpbeenuppilotcasestudynaturalcapitalaccountingreport.pdf.
29. Forico. (2024). Natural Capital Report. https://forico.com.au/natural-capital.
30. International Sustainable Forestry Coalition (ISFC). (2025, 14 July). Leading forestry companies launch, world-first,
sector-wide project to pilot test natural capital accounting with the Capitals Coalition and TNFD [Press release]. https://
capitalscoalition.org/wp-content/uploads/2025/07/FINAL-Media-Release-natural-capital-project-FINAL-1.pdf.
31. United Utilities and Economics for the Environment (eftec). (2023). Corporate Natural Capital Account for United Utilities:
Final Report. https://www.unitedutilities.com/globalassets/documents/corporate-documents/corporate-natural-capital-
account.pdf.
32. Eosta. (2018). Eosta’s natural capital story on true cost accounting. https://wevaluenature.eu/sites/default/files/2021-04/
WVN%20Natural%20Capital%20Journey%20-%20Eosta.pdf.
33. Kering. (2024). What is an EP&L? https://www.kering.com/en/sustainability/measuring-our-impact/our-ep-l/what-is-an-ep-l/.
34. Capitals Coalition. (2021). Natural Capital Protocol. https://capitalscoalition.org/capitals-approach/natural-capital-
protocol/?fwp_filter_tabs=guide_supplement.
35. Capitals Coalition. (2024). Case studies. https://capitalscoalition.org/impact/case-studies/?fwp_filter_tabs=case_study .
36. Natura & Co. (2023). Management by Impact – IP&L (Integrated Profit and Loss), integrated management tool .
https://ri.naturaeco.com/en/gestao-por-impacto-ipl/.
37. Holcim. (2022). Integrated Profit & Loss Statement 2021: Annual Results and Assumptions . https://www.holcim.com/
sites/holcim/files/2022-04/25022022-holcim_ipl_2021_statement.pdf.
38. Capitals Coalition. (2025). Integrated Decision-Making Framework. https://capitalscoalition.org/capitals-approach/
frameworkintegrated/.
39. Biodiversity Disclosure Project. (2022). Biological Diversity Protocol. https://nbbnbdp.org/bd-protocol/.
Mainstreaming Natural Capital: Advancing the Global Agenda to Integrate Nature in Decision-Making
20
Ask AI what this page says about a topic: