Water Industry Forum produces best practice guide on natural capital

The Water Industry Forum, working with Water UK’s Environment Policy Advisory Group members through Welsh Water and supported by Atkins, has produced a set of principles to guide the water sector on the use and application of natural capital type approaches in investment decision making.

The principles include that natural capital approaches should aim to:

• facilitate balanced decisions that will meet the needs of the present without compromising the ability of future generations to meet their own needs;

• create benefits across a broad range of outcomes beyond individual targets, for environment and society; and

• offer best value options for environment and stakeholders.

The full list of principles can be found in the Water Industry Forum report Natural capital principles for the water industry. The report is intended as a best practice guide for water companies and regulators to help design and apply natural capital type tools – ultimately with the aim of making more sustainable investment decisions and delivering better outcomes for customers and the environment.

Water Industry Forum’s chief executive,Peter Drake, said: “The list of principles are the result of a true collaborative effort by water companies, regulators and governments from across the UK working in partnership. As a neutral and independent forum, we are really pleased to have been able to facilitate an outcome that moves the industry forward.”