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IASB to Consider Biodiversity Standard

Global Glimpses | July 13, 2010

The International Accounting Standards Board is to consider new rules to make companies measure and report their impact on biodiversity and ecosystems.

The move follows a report from a United Nations-backed body that calls on standard setters to play a part in forcing companies to treat the loss of biodiversity and ecosystems (BES) as a serious business issue, as well as a wider social concern.

The report, The Economics of Ecosystems and Biodiversity, says there are techniques available for companies to measure the financial value of their BES impact, but such data are rarely used in business decision making.

The report states, “Ultimately, the ability and interest of business to use such valuations in their financial accounts may depend on developments in accounting...

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