World-first catalogue released as experts gather for global biodiversity conference

Climateworks Centre has launched a world-first resource to support the consistent measurement of natural capital, which fuels over half of Australia and the world’s Gross Domestic Product (GDP).

The Natural Capital Measurement Catalogue (NCMC) is a user-friendly, open-source, scientifically rigorous resource developed by Monash University’s Climateworks Centre, over four years alongside experts, industry, government, and research stakeholders.

Climateworks Centre Natural Capital Program Manager, Eithne Cahill said that there has been no agreed way to measure natural capital in Australia, until now.

She emphasized the importance of natural capital, which includes soil, air, water, and living creatures, in human life and economic activities. Over half of the world’s GDP is dependent on nature and its services.

The Catalogue launch comes as world leaders and experts gather in Colombia for the 16th global United Nations Biodiversity Conference of the Parties (COP16).

The Australian Farm Institute’s senior researcher, Justin Maroccia, has praised the NCMC for its guidance in understanding, measuring, and reporting natural capital in the agricultural value chain, stating that Version 2.0 will help more users realize the value of this resource.

Climateworks Centre Food Land and Oceans Lead Liam Walsh highlights the NCMC’s measures for landowners, mining companies, and governments to understand their natural assets’ extent, condition, and benefits. This measure offers significant opportunities for world businesses, the economy, and governments.