CPA Canada supports improving Canada’s natural capital stewardship

Chartered Professional Accountants of Canada (CPA Canada) is a founding partner in a national effort to accelerate the measurement and valuation of the country’s natural capital to support more holistic and informed decision-making.

TORONTO, October 6, 2016 — Chartered Professional Accountants of Canada (CPA Canada) is a founding partner in a national effort to accelerate the measurement and valuation of the country’s natural capital to support more holistic and informed decision-making.

CPA Canada has joined The Natural Step Canada in an initiative aiming to enhance the way Canadian businesses and governments account for, and make decisions about Canada’s stocks of water, land and air along with renewable and non-renewable resources such as plant and animal species, forests and minerals.

“We are proud to be a core partner of this special initiative, the Natural Capital Lab,” says Gord Beal, CPA Canada’s vice-president of research, guidance and support. “This ambitious platform brings together many experienced and knowledgeable stakeholders united in wanting to develop ways to allow business and government leaders to become better stewards of our natural resources.”

Beal adds that participation in this field is a logical extension of CPA Canada’s extensive work in the area of sustainability. “Canada’s professional accountants are highly competent at measuring and managing performance,” he notes. “They are well positioned to support the undertaking of natural capital assessments and the ultimate use of such information in decision-making.”

The Natural Capital Lab is a four-year initiative that provides a platform for ongoing innovation.  

“Canada’s CPAs work in all sectors of the Canadian economy and support organizational success and long-term value creation, so this is an important issue for the profession to address in terms of future prosperity,” explains Beal. “Everyone benefits if tools and frameworks can be developed that can encourage conservation and restoration by our business leaders and politicians.”

“Canada's vast natural assets are central to our economic prosperity and to our national identity on the world stage,” says David Hughes, president and CEO of The Natural Step Canada. “That is why it is so important that informed decisions be made relating to our natural resources. The initiative is bringing together economists, accountants, statisticians, ecologists, NGOs, government, business leaders and other stakeholders to tackle the difficult challenge of assigning value to the country’s natural capital.”

For more information on this initiative, visit the Natural Capital Lab.