Definition 1
Natural Capital means the elements of the natural environment [relevant to the Company/ Project/ Property] that provide valuable goods and services to [the Company/ Project/ residents/ community].
Definition 2
Natural Capital Asset means an individual or set of elements of the natural environment that provides valuable goods and services to [the Company/ Project/ Property]. [The relevant assets are listed in Annex [ ● ][, which will be updated [every year/ from time to time].]
Definition 3
Natural Capital Valuation means [insert method of valuation] used to measure the benefits derived from [Natural Capital/ Natural Capital Asset] relevant to [the Company/ Project/ Property].
Drafting notes and guidance
What is natural capital?
In general, natural capital refers to the world's stock of natural assets, which either:
- directly provide goods and services to humans; or
- indirectly support the wider economy and society.
Natural capital is one of the five types of capital:
- natural capital;
- manufactured capital (e.g. machinery and buildings);
- financial capital (e.g. shares and banknotes);
- human capital (e.g. knowledge and skills); and
- social capital (e.g. levels of trust and connections among people).