The release of NCMC Version 1.0 follows an extensive feedback and refinement process. A broad range of stakeholders working in the natural capital space have advised on the development of the NCMC. This includes research, financial institutions, measurement providers, government, consultancy, land management and supply chains organisations.

The NCMC is designed to present natural capital accounting and assessment metrics that are consistent with national and international standards and frameworks such as the United Nations System of Economic-Environmental Accounting (SEEA), the Natural Capital Protocol and the Taskforce on Nature-related Financial Disclosures (TNFD). 

Users can consult the NCMC to identify metrics and methods that they can use in: 

  • management of natural assets (e.g. at the farm level, or along corporate value chains or within defined, managed land areas) 
  • management of an organisation’s nature-related impacts and dependencies, or risks and opportunities (e.g. indirectly through supply chains or directly through business operations)
  • external reporting (e.g. against disclosure standards and frameworks).

The NCMC is intended to be a live resource that will continue to be refined, expanded and tested over time to ensure that it supports measurement of natural capital for a wide range of applications and user groups. 

The ongoing technical development of the NCMC is governed by a group of technical experts from CSIRO, ANU, La Trobe University, Griffith University, Federation University, Accounting for Nature and Farming for the Future. These experts have an active interest in advancing the measurement and management of natural capital in Australia and globally. 

Since the release of the proof-of-concept in 2021, the NCMC has been refined and expanded based on expert stakeholder feedback to include updates such as:

The NCMC Version 1.0 also includes helpful descriptions of each section, as well as definitions and resources to support natural capital measurement. 

We encourage you to use and test the NCMC. We welcome your feedback through the feedback form below.