Four capitals

SustainAbilities is about managing resources in an effective way.

We measure our success not only in terms of financial capital, but also in terms of social capital – the value of people and communities, natural capital – the value of the contribution of nature and knowledge capital – the value of know how and learning.

When we started our SustainAbilities Plan we made a commitment to the principles of Integrated Reporting and have adopted these in our Annual Report and Accounts.

Social, Knowledge and Natural capital metrics are now included alongside our Financial KPIs in our reporting. We’re also improving how information is collected and shared to increase users confidence in non-financial information.

You can find out about the work we’ve done to apply PwC’s ‘Building trust through Insight’ methodology here:

Our four capitals are:

 

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Naturalcapital

The stock of natural resources that enable the Earth and everyone on it to exist – from drinking water to breathable air, to sources of energy and raw materials. We have a significant impact and dependence on these resources and we are committed to taking action to protect them.

 

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Socialcapital

This is the stock of social connections, benefits, roles and networks that enable societies to function and thrive. It includes employment opportunities, trust, a sense of place, and employee and community health and wellbeing.

 

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Knowledgecapital

This is the stock of skills, know-how and experience possessed by society and organisations. We recognise the importance of helping to nurture talent, enable innovation, support our employees and encourage stakeholders to work collaboratively towards a more sustainable and resilient world.

 

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Financialcapital

By taking steps to protect and enhance natural, social and knowledge capital, we will improve our ability to manage financial capital in ways that will generate more profitable business and growth. By seeing our business through the lens of sustainability, we can better manage risk and costs.