title: REVIEW: Towards a risk register for natural capital.
abstract: Natural capital is essential for goods and services on which people depend. Yet pressures on the environment mean that natural capital assets are continuing to decline and degrade, putting such benefits at risk. Systematic monitoring of natural assets is a major challenge that could be both unaffordable and unmanageable without a way to focus efforts. Here we introduce a simple approach, based on the commonly used management tool of a risk register, to highlight natural assets whose condition places benefits at risk.We undertake a preliminary assessment using a risk register for natural capital assets in the UK based solely on existing information. The status and trends of natural capital assets are assessed using asset-benefit relationships for ten kinds of benefits (food, fibre (timber), energy, aesthetics, freshwater (quality), recreation, clean air, wildlife, hazard protection and equable climate) across eight broad habitat types in the UK based on three dimensions of natural capital within each of the habitat types (quality, quantity and spatial configuration). We estimate the status and trends of benefits relative to societal targets using existing regulatory limits and policy commitments, and allocate scores of high, medium or low risk to asset-benefit relationships that are both subject to management and of concern.The risk register approach reveals substantial gaps in knowledge about asset-benefit relationships which limit the scope and rigour of the assessment (especially for marine and urban habitats). Nevertheless, we find strong indications that certain assets (in freshwater, mountain, moors and heathland habitats) are at high risk in relation to their ability to sustain certain benefits (especially freshwater, wildlife and climate regulation).Synthesis and applications. With directed data gathering, especially to monitor trends, improve metrics related to asset-benefit relationships, and improve understanding of nonlinearities and thresholds, the natural capital risk register could provide a useful tool. If updated regularly, it could direct monitoring efforts, focus research and protect and manage those natural assets where benefits are at highest risk.
authors: Centre for Biodiversity and Environment Research Department of Genetics, Evolution and Environment University College London Gower Street London WC1E 6BT UK.
authors: Georgina M
authors: GM
authors: Mace
authors: Centre for Ecology and Hydrology Maclean Building Crowmarsh Gifford Wallingford Oxon. OX10 8BB UK.
authors: Rosemary S
authors: RS
authors: Hails
authors: Eftec Economics for the Environment Consultancy Ltd 73-75 Mortimer Street London W1W 7SQ UK.
authors: Philip
authors: P
authors: Cryle
authors: Natural Capital Committee Secretariat DEFRA Area 1B Nobel House London SW1P 3JR UK.
authors: Julian
authors: J
authors: Harlow
authors: Natural England Unex House Bourges Boulevard Peterborough PE1 1NG UK; The National Trust Westley Bottom Bury St. Edmunds Suffolk IP33 3WD UK.
authors: Stewart J
authors: SJ
authors: Clarke
keywords: ecosystem services; goods and benefits; limits; natural capital; targets; thresholds