A balance sheet approach to natural capital accounting
Summary
Olam Food Ingredients (ofi) requested technical support to develop environmental economic valuations for a series of indicators for a crop supply chain and to develop a natural capital account.
How we helped
Little Blue Research produced a natural capital income statement and natural capital balance sheet to understand the natural capital impacts and future dependencies (over 20 years) for a specific crop supply chain.
Client description
Olam Food Ingredients (ofi)
80,000+ employees
Case study details
Main service: Impact & dependency
Sector: Food, beverages, textiles and agriculture
Assessment location: Global
Capital(s)
Challenges
• Creating a NC P&L and NCBS, following, where possible, the recently launched BS 8632 natural capital accounting for organizations standard.
• Updating and/or producing new environmental economic valuations for GHGs, land use change (deforestation), water use including the impact of scarcity events, pollination, soil health, food provisioning and reforestation.
Outcomes
• NC P&L review with recommendations for improvements to existing methods.
• Natural capital income statement and natural capital balance sheet for 2018 and 2019 with appropriate notes and caveats.
"The Little Blue Research team has been helpful in providing us with the insights on Natural Capital Accounting methodologies as well as natural capital impact valuations specific to our industry. The team, led by Stephanie, was knowledgeable in helping us produce first of its kind Natural Capital Accounts - Balance Sheet and P&L statements."
Ria Bakshi -Lead Finance for Sustainability (F4S) Olam Food Ingredients.
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