Document / Publication
This report argues that both natural capital and nature protection approaches have something to offer, but that neither is enough on its own. A strategic combination of both would be a more effective route to managing environmental challenges and reducing risks of floods and droughts. According to the report, this aligned approach can use new tools such as natural capital accounting and market-based policies to support companies in reducing their environmental impacts and investing in natural services. It shows how in the case of flood risk reduction, this approach can contribute to lower insurance pay outs and premiums and, it makes the case of the business cost of flooding in the UK. Further, it includes some UK business cases on the challenges and benefits of the natural capital approach that considers extreme events and climate change threats.