A first in accounting: Duchy of Cornwall includes natural capital accounting in their annual report!

Earlier this year, the Duchy of Cornwall commissioned eftec to scope a corporate natural capital account for its rural estate. We followed the corporate natural capital accounting (CNCA) framework that we  developed for the Natural Capital Committee. This is the first application of the CNCA to be published as part of the annual accounts in the UK. 

Key results from the Duchy’s initial account are included in its Annual Report and Accounts - available here – which states that “natural capital accounting will help organise environmental priorities across different parts of the estate and will support decision-making around [the Duchy’s] strategic objectives”.