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