This document describes how nature is integrated into impact accounting and how this can support more effective business decision-making. It does so by addressing the following three aspects:
- Making the case for using impact accounting for nature in business steering to manage risks and resilience, to address regulations and to inform coherent climate-nature transition plans.
- Defining the role of nature in impact accounting and clarifying related concepts and terminologies to enable users of the IFVI/VBA methodologies to establish a comprehensive impact accounting for nature addressing regulatory requirements and internal decision making.
- Providing the methodological foundations for the impact driver Resource Use for assessing high-impact commodities and outlining two possible approaches: 1) using Input-Output Modelling and 2) using Life Cycle Assessment (LCA).