More calls for accounting standards to meet sustainability goals [News]

November 7, 2012 by  
Filed under News

By Lynda Hong, Channel NewsAsia, 6 Nov 2012.

Getting more Asian corporates to improve accounting standards by factoring in natural, human and social capital got louder on Tuesday in Singapore.

Environmental organisations are now focusing on getting more Asian business leaders to account for sustainability.

For example, pollination of bees to gather nectar from flowers is estimated to cost some US$200 billion.

This hefty price tag is according to estimates from The Economics of Ecosystems and Biodiversity (TEEB) for Business Coalition .

Such drive to value nature in dollars and cents – or what is known as natural capital – is gaining traction in the business world.

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Source: Channel NewsAsia

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