Specialists sought to develop new natural capital accounting standard

Last updated:
7/8/2023
Natural capital water and forest

The development of the new standard, ISO 14054 Natural Capital Accounting for Organizations is about to kick off.

This upcoming standard offers guidance to organisations in the face of increasingly stringent environmental and nature-related reporting requirements. It provides guidelines and specifications for preparing natural capital accounting.

Are you an expert in natural capital accounting? Then we need your know-how and expertise! Make your voice heard in the development of this new standard and join the NBN/B031 'Environmental management' standardisation committee now.

What is natural capital accounting?

Natural capital accounting looks at the impact of, and how dependent an organisation is on nature and the environment. How? By systematically collecting financial, socio-economic and environmental information and presenting it in a clear way to decision-makers.

This kind of accounting brings all information together in one place. It considers your company's impact on the environment and nature in a holistic way. But it also looks at how dependent your organisation is on the environment and nature.

What does ISO 14054 include?

The new standard addresses two important aspects:

  1. The Natural Capital Balance Sheet (NCBS) shows your organisation's dependence on natural capital assets, i.e. natural resources such as forests, water or healthy soils.
  2. The Natural Capital Income Statement (NCIS) shows the impact of your organisation on natural capital assets.

Who is developing the new ISO 14054 standard?

The ISO/TC 207/SC 1 'Environmental management systems' technical committee is responsible for the development of the future standard. A new working group, WG 14, was established for this purpose.

WG 14 will meet for the first time at the end of May 2023, and the goal is to publish the final standard by July 2025.

Are you completely at home with natural capital accounting? And would you like to closely follow these ISO activities and get involved? Then don't miss the opportunity to sign up for the NBN/B031 'Environmental management' standards committee.

What do our experts on a standards committees do?

The experts who sit on Belgian standards committees:

  • follow ISO and CEN standardisation projects in real time;
  • submit technical comments on the content of each draft;
  • vote on each draft of a standard, at every stage;
  • participate in the development of standards;
  • help shape the Belgian position on ISO and CEN decisions.

What are the benefits of participating in standards development?

Participating in standards development is always to your advantage:

  • You increase your knowledge.
  • You're the first to know about interesting developments.
  • You get access to strategic information.
  • You can anticipate changes.
  • You can influence the content of standards.
  • You get the chance to defend your own interests.
  • You expand your network.

Would you like to help develop the new ISO 14054 standard?

Then join the NBN/B031 'Environmental management' standardisation committee. This way, you will closely follow and participate in the work of the ISO/TC 207/SC 1 'Environmental management systems' technical committee.

I would like to know more about environmental management and its standards committees

Register as an expert

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