ABSTRACT

This chapter focuses on the business applications natural and social capital inform and techniques for how to account and value this. As an evolving field, there are many new names emerging for this, for example, 'Triple Bottom Line' (TBL) or Natural Capital Accounting (NCA). Catchy terms for sustainability financial statements are also emerging, such as 'Environmental P&L s', 'EP&L' and 'common good balance sheets'. Financial valuation can be reflected in management accounting for internal financial decision-making or ultimately for external financial. The aim of sustainability accounting is to understand the environmental, social and economic impacts and dependencies of the business and wider stakeholders impacted – in both non-financial and financial terms. Non-financial are the bio-physical or social metrics determined in the assessment and may be sufficient to inform decision-making without financial valuation. The environmental and social impacts and dependencies should be identified and measured. This provides both qualitative and quantitative non-financial information.