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The United Nations Association of Australia (Victorian Division) held a seminar on Natural Capital and Supply Chain Sustainability: Measuring and Managing Environmental Impacts and Risks on Thursday 13 February in Melbourne in partnership with National Australia Bank.

Held as part of our Sustainability Leadership Series, this seminar responded to the global momentum around natural capital valuation, especially since the Rio+20 Conference on Sustainable Development, and the move towards a green economy and followed from previous events we held on natural capital valuation and water valuation in 2012 and 2013.

Bringing together experts and practitioners from across business, government and civil society, the seminar sought to provide a platform for shared learning on integrating natural capital valuation into supply chain management and decision making.

It highlighted the challenges and opportunities associated with measuring and managing natural capital risks and impacts in supply chain operations as well as implementing more sustainable sourcing practices.

The conversation covered:

  • The United Nations-related work and initiatives in relation to natural capital and natural capital valuation/accounting;
  • Environmental sustainability in procurement and supply chain decision making and management: importance, challenges and opportunities, case studies from the packaging and chemicals industries;
  • Environmental accounting, measurement, auditing, disclosure and reporting tools and their application in/for supply chain operations, including CDP's Supply Chain program;
  • Certification schemes and standards for environmentally sustainable sourcing and procurement, including GECA;
  • Opportunities for multi-stakeholder collaborations and partnerships.

Guest speakers:


• James Day, Director - Australia and New Zealand, CDP
• Chris Gallagher, Managing Director, Chartered Institute of Purchasing and Supply Australasia
Clare Luehman, General Manager, Global Sustainability & Carbon, Incitec Pivot Ltd
• John NewtonGeneral Manager, Sustainability & Environment, Orora Ltd (formerly Amcor)
Frederic Papon, Director, Climate Change and Sustainability Services, Ernst & Young
• Rupert Posner, CEO, Good Environmental Choice Australia

Facilitator


Carl Obst, Honorary Research Fellow and Associate, Melbourne Sustainable Society Institute & Consultant on Natural Capital Accounting

Background

“Valuing natural capital specifically can improve business decisions on risk management, supply chain sourcing decisions, new markets and investments”
- Peter Bakker, President of the World Business Council for Sustainable Development (WBCSD) and Board member of the TEEB for Business Coalition

“Understanding natural capital risks and opportunities is essential for business to position themselves in an increasingly resource constrained world.”
- Dr. Dorothy Maxwell, Director of the TEEB for Business Coalition

“Turning a blind eye to sustainability issues is a ticking time bomb, and hiding missteps–no matter how deep down the supply chain–is no longer an option”
- Global Corporate Sustainability Report for 2013, UN Global Compact, 2013