Integrating the value of ocean natural, social and human capital into business decision-making

Integrating the value of ocean natural, social and human capital into business decision-making

Businesses play a key role in intelligent ocean management. However, most organizations do not fully understand how their operations or value chains relate to the ocean in terms of how they impact and depend upon it. As a result, businesses do not recognize the value of incorporating the ocean in core business decisions.

 

The Capitals Approach enables organizations to understand how their success is directly – or indirectly – underpinned by natural capital (renewable and non-renewable natural resources yielding a flow of benefits to people), social capital (networks and shared norms, values and understanding that facilitate cooperation within and among groups) and human capital (knowledge, skills, competencies and attributes of individuals contributing to improved performance and wellbeing).

By identifying, measuring, and valuing impacts and dependencies on ocean capital, a Capitals Approach empowers business to make decisions that offer the greatest value across all capitals.