#19 - The Ecosystem Condition Protocol: the what and how of this missing piece of the corporate biodiversity puzzle

This nineteenth issue of The Nature Intelligence Newsletter details the expected content & governance of the Ecosystem Condition Protocol (EC Protocol), an emerging measurement & accounting framework for biodiversity. It covers:

• how the EC Protocol brings the missing measurement & accounting piece in the broader puzzle of corporate biodiversity action
• questions the EC Protocol is expected to address
• governance
• theory of change
• how businesses can participate

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A first newsletter issue provided an introduction of the Protocol's goals, needs addressed, and a simplified overview of linkages to other frameworks. For a quick introduction to the Protocol, you can also read this article by Thomas Cox. The Protocol is still under preparation.

You can follow the Protocol on LinkedIn to stay informed.

The missing piece of the puzzle

The video (and associated slides) below displays the current "puzzle" of corporate biodiversity:

• business networks spread best practices and catalyse actions among peers
• process standards standardize and guide companies in processes related to biodiversity such as how to address biodiversity at the organizational level
• knowledge consolidation actors review and share biodiversity science
• advocacy actors push for more ambitious policies and actions
• disclosure frameworks establish what companies should report
• target setting frameworks determine what targets companies should set and with which ambition
• measurement & accounting frameworks detail how companies should measure & account for natural capital or how states or financial institutions should measure & account for biodiversity.

But up to now, guidance on how companies should measure & account for ecosystem condition was missing. This missing piece of the puzzle will be brought by the EC Protocol.

Questions addressed

The Protocol is still under preparation and the scope of questions it will address may evolve. A first mapping of questions and associated resources to answer them was conducted and put to consultation.

The consultation closed on 15 September and results will be shared in the coming months, informing the start of the work on the Protocol's v0.1.

Governance

The need for an EC Protocol is widely shared. The key question for its success thus revolves around its governance.

Building a decision-making body independent from stakeholders with potential conflicts of interest and involving all the key stakeholders with whom alignment will be critical have thus be the priority of the preparation phase of the Protocol.

The video below details the principles guiding the governance of the Protocol and the bodies envisaged to translate those principles into facts. Preparation will continue during COP16 and the actual stakeholders involved in the governance should be announced in 2025.

The Biodiversity Footprint Intelligence Company (BioInt) is currently supporting the preparation phase of the EC Protocol but will not be part of the steering of the Protocol in the future (and its role will be decided by the future "board of directors").

Theory of change

Learning from successful initiatives such as the Greenhouse Gas Protocol (GHG Protocol) or the Taskforce on Nature-related Financial Disclosures (TNFD) , the Protocol has a clear and pragmatic theory of change to achieve its goals. It will involve key and large stakeholders to scale up and be referenced by key frameworks.

How businesses can participate

If you're a business and are now convinced by the need for the EC Protocol and wonder how you can support or test it, this should answer your questions (and if not, please comment or contact me).

Please share your thoughts in comments! And please let me know if there is a topic you'd like me to cover in the future!

If you found this issue of the newsletter useful, please remember to subscribe and feel free to spread it by liking, commenting or sharing it (for subscribers receiving it in their inbox, please click on the blue button below to be able to like)!

Disclaimer: all views are mine and do not represent any institution or initiative's.

Access previous issues of the Nature Intelligence Newsletter:

Case studies and examples

#01 - Impacts on ecosystem integrity of a listed equity index assessed for the first time - STOXX600

#08 - Getting inspired: 3 front-runners who assessed their biodiversity impacts at the corporate level

#09 - Ecosystem condition: direct measurement and assessment of regulatory offsets

Ecosystem condition definition and metrics

#02 - All you ever wanted to know about the MSA

#03 - Ecosystem condition: the indicator to watch for corporate biodiversity performance

Biodiversity measurement tools

#04 – Differences between the corporate biodiversity metrics

#05 - Charting path: navigating the biodiversity tool wilderness - part 1 - The compasses

#06 - Charting path: navigating the biodiversity tool wilderness - part 2 - The map

#07 - Charting path: navigating the biodiversity tool wilderness - part 3 - Tools for financial institutions

Biodiversity credits

#10 - Biodiversity credits: definition and main actors

#11 - Biodiversity credits: uncovering the use cases

#12 - Biodiversity credits: deep-dive on use cases, demand and market size

#13 - Biodiversity credits: counterbalancing impacts with clear ecological equivalency rules

#15 - Biodiversity credits: lessons & key differences of 4 leading schemes

#16 - Biodiversity credits: 4 issues you need to know about

#17 - Biodiversity credits trends: market & price

Align

#14 - Align - Best practices for biodiversity measurement & compliance of existing tools

The Ecosystem Condition Protocol (EC Protocol)

#18 - The Ecosystem Condition Protocol: introduction, needs, goals and linkages to other frameworks

Credits: the cover of this issue was made using Bing Copilot Designer.