Last year at the Rio+ 20 Sustainable Development Conference, the Natural Capital Declaration (NCD) was launched and hailed as one of the most promising initiatives of the conference. Now, almost a year later, the NCD marks the start of Phase II which is explained in detail in the NCD Roadmap. Basically, Phase II is the implementation of the Declaration's four commitments through the process laid out in the Roadmap.
The NCD is a global project that seeks to integrate natural capital-the ecological goods and services the Earth provides that yields direct and indirect benefits, like water and timber-into financial accounting, disclosure and reporting. In doing so, the Declaration believes it will create a broader understanding of natural capital risks in financial markets. The NCD has been endorsed by investors, insurance firms and banks. A total of 41 CEOs from these financial institutions have signed the document.