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Article
Publication date: 14 February 2025

Marie-Chantale Pelletier, Claire Horner, Mathew Vickers, Aliya Gul, Eren Turak and Christine Turner

The purpose of this study is to explore the feasibility of natural capital accounting for the purpose of strengthening sustainability claims by reporting entities. The study…

42

Abstract

Purpose

The purpose of this study is to explore the feasibility of natural capital accounting for the purpose of strengthening sustainability claims by reporting entities. The study showed how riparian land improvement influenced ecosystem services which could be measured in the context of financial reporting. The authors tested options for incorporating natural capital concepts into financial accounting practices under existing accounting standards specifically: on the balance sheet.

Design/methodology/approach

A case study approach was used with an Australian water utility that has accountabilities to protect the environment, including maintaining and enhancing riparian land assets. The authors examined internal data sources, stakeholder engagement outcomes, physical assets, monetary valuation processes and financial recognition of natural capital income and assets. Natural capital income was estimated by process-based ecological modelling and ecosystem services were valued in relation to stormwater filtration and carbon storage using data from both internal and external sources.

Findings

The authors demonstrated how an environmental agency can disclose natural capital as a class of assets on the balance sheet. The authors also found that current accounting standards allow the recognition of some types of environmental assets where ecosystem services were associated with cost savings. The proof-of-concept used for asset measurement through ecosystem service modelling proved useful to strengthen sustainability claims or report financial returns on natural capital investment.

Originality/value

While many studies have examined environmental disclosures in voluntary reports, this study established that natural assets can be included on the balance sheet of financial statements, offering a robust approach to measuring and reporting on natural capital. It did so by applying financial accounting processes and principles to a real-world natural capital management scenario with direct participation and cooperation between the asset manager, academic researchers and a government environment agency, bridging the gap between theory and practice.

Details

Meditari Accountancy Research, vol. 33 no. 7
Type: Research Article
ISSN: 2049-372X

Keywords

Available. Content available
Article
Publication date: 1 June 2003

Herbert Spencer, John Dewey and Jean Piaget

1212

Abstract

Details

On the Horizon, vol. 11 no. 2
Type: Research Article
ISSN: 1074-8121

Keywords

Available. Content available
Article
Publication date: 13 July 2015

Karen Boll and Roderick A.W. Rhodes

3541

Abstract

Details

Journal of Organizational Ethnography, vol. 4 no. 2
Type: Research Article
ISSN: 2046-6749

Available. Content available
Book part
Publication date: 27 September 2023

Abstract

Details

High Impact Practices in Higher Education: International Perspectives
Type: Book
ISBN: 978-1-80071-197-6

Available. Content available
Book part
Publication date: 30 June 2000

Abstract

Details

The Theory of Monetary Aggregation
Type: Book
ISBN: 978-0-44450-119-6

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Book part
Publication date: 7 November 2022

Free Access. Free Access

Abstract

Details

Role of Education and Pedagogical Approach in Service Learning
Type: Book
ISBN: 978-1-80071-188-4

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Book part
Publication date: 29 March 2022

Free Access. Free Access

Abstract

Details

Gender, Criminalization, Imprisonment and Human Rights in Southeast Asia
Type: Book
ISBN: 978-1-80117-287-5

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Book part
Publication date: 19 August 2020

Abstract

Details

Integrating Community Service into Curriculum: International Perspectives on Humanizing Education
Type: Book
ISBN: 978-1-83909-434-7

Available. Content available
Book part
Publication date: 2 July 2004

Abstract

Details

Functional Structure and Approximation in Econometrics
Type: Book
ISBN: 978-0-44450-861-4

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Book part
Publication date: 11 September 2020

Free Access. Free Access

Abstract

Details

Applications of Management Science
Type: Book
ISBN: 978-1-83867-001-6

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