The Align project - Aligning accounting approaches for nature - aims at providing businesses and financial institutions with principles and criteria for biodiversity measurement and valuation.
The Align project is funded by the European Commission led by WCMC Europe, the Capitals Coalition, Arcadis, ICF and UNEP-WCMC.
Key publications
Objectives
Align focuses its efforts on the space where experimentation on biodiversity measurements has occurred, many different methodologies have evolved, and a need for recommendations for measuring biodiversity in different contexts has been expressed.
Align aims to maximise synergies with the broader sustainability measurement and disclosure efforts including the Corporate Sustainability Reporting Directive (CSRD), the International Financial Reporting Standards (IFRS), the Global Reporting Initiative (GRI) revision of its biodiversity indicators, the Taskforce for Nature-Related Financial Disclosures framework (TNFD), the Science Based Targets Network guidance (SBTN).
The strength of the project can be seen by the benefits provided from intensive business engagement. The geographic focus is the EU, but it will link to global business and policy initiatives to ensure the project impact extends globally and positions EU businesses at the forefront of biodiversity policy implementation.
Milestones
In December 2022, the Align project published its recommendations bringing more clarity on what elements of biodiversity to measure and how to assess impacts and dependencies on biodiversity in a business context. Influential corporate standards such as EFRAG's ESRS E4 Biodiversity and ecosystems but also Global Reporting Initiative (GRI) or initiatives like Taskforce on Nature-related Financial Disclosures (TNFD) already cite or build on the Align recommendations.
From 2023 onwards, Align has been developing guidance to apply these recommendations at site, supply chain and finance sector level. Further guidance on measuring business contributions to the nature positive goal or to the Kunming-Montreal Global Biodiversity Framework will also be provided.
The Align Community
Align is a business-focused and business-driven project. Therefore, we have invited businesses and other stakeholders in the field of natural capital accounting and corporate biodiversity measurement, valuation and disclosure to engage in this project in various ways:
- The Community of Interest is a network of businesses that wants to stay up to date on the latest developments on tools and standards related to biodiversity measurement and natural capital accounting.
- The Community of Practice is composed of businesses that have actively contributed to the creation of the project’s tools and standards, ensuring that all outputs are relevant and fit-for-purpose for businesses and financial institutions.
- The Technical Hub is a group of individuals of the Community of Practice, whose aim is to ensure scientifically robust products and discuss specific topics related to biodiversity measurement.
The projects is overseen by an independent Advisory Board that acts as a sounding board by reviewing and providing input into key deliverables from the perspective of businesses and financial institutions.
