Transparent was an EU LIFE funded project that developed standardized natural capital accounting and valuation principles for business in line with the ambition of the European Green Deal.
Project Description
‘Transparent’ was an EU LIFE – funded preparatory project implemented from 2020-2023. Transparent project developed a consistent methodology of monetary valuation of environmental impacts to enable and strengthen informed business decision-making while satisfying external reporting requirements of sustainability reporting standards. Doing so, it facilitates the integration between corporate accountants, sustainability experts, decision-makers, and other stakeholders. The project outputs are based on various piloting results and expert input.
Project Findings
The application of Transparent provides users with relevant and useful information to support decision making. Transparent will be used by business aiming to understand the value of their impacts and dependencies. Currently, ‘best-in-class’ companies integrate this relevant information into their management processes. Transparent aimed to escalate these practices to a broader group of companies, providing recommendations for standardization and creating consistency in how businesses measure and value their impact and dependency on natural capital. It provided management accounting principles, that can, in turn, be used for external disclosure for reporting to stakeholders under CSRD, the EU Taxonomy Regulation, or the international and national standards (e.g., ISSB). The project created consistency in what should be measured and how businesses should measure and value natural capital impacts and dependencies in the scope of air, water, land, and biodiversity.
Capital type
Natural capital
Sectors
Business
Partners
Value Balancing Alliance (VBA)
World Business Council for Sustainable Development (WBCSD)
Contact