The report Is natural capital a material issue? published in November 2012, was based on a survey of ACCA members. It investigated the concept of materiality, how it is used to identify issues for management and disclosure and the extent to which it currently reflects the significance of natural capital as a business issue.
The accountants surveyed were aware of the links between corporate value and natural capital, and that current trends in natural capital present a variety of different risks to businesses that are likely to increase over time.
However this awareness has not flowed into widespread corporate action as many of the accountants surveyed work for organisations that do not report on natural capital. The key barriers to greater uptake include a lack of guidance, valuation methodologies and understanding.
ACCA is continuing its research into the topic of natural capital and will be producing a number of reports and papers over the coming months.