International leaders from business, government and NGOs gathered in Singapore to celebrate the official launch of the new TEEB (The Economics of Ecosystems and Biodiversity) for Business Coalition Headquarters, whose aim is to achieve a shift in corporate behaviour to preserve and enhance, rather than deplete the earth’s natural capital.
The Collation was launched by Vivian Balakrishnan, Minister for Environment and Water Resources, Singapore, who stated, “I am very glad to have launched the TEEB for Business Coalition here in Singapore, because for all the significant challenges, the only way that we are going to solve them is through a coalition of all the different stakeholders. It is absolutely essential that we get the economics right and the economics has to extend to biodiversity and to the environment.”
The Coalition brings together global stakeholders to study and standardise methods for natural capital accounting to enable its valuation and reporting in business. This is the business application of the G8+5 and UNEP supported TEEB (The Economics of Ecosystems and Biodiversity) programme, led by Pavan Sukhdev. This provides a compelling economic case for the conservation of natural capital and is the cornerstone of current Green Economy policy.
For more information on the launch in Singapore, click here.