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RE: Steem, corporate governance and value - a new way of thinking?
I think customers would come into the social and relationship capital. The difficult one for me is the Natural Capital. There are some great advances in valuing large woody debris in rivers for meeting water temperature standards, for example, in the Pacific Northwest. I can even see putting a value on the snow being stored in the mountains for water supply in our rivers and groundwater. But, wow, trying to put a value on the Arctic ice cap is something else.
On valuing the Arctic ice cap, when building its strategy, the business should ask itself what impact their activities will have on Natural Capital. Often this questioning forms part of a much larger conversation with their stakeholders. They will find they have degrees of impact and ability to influence for better or worse e.g. protection of Natural Capital.
"Should" is the operative word there, lol. There are externalities, short vs. long-term thinking and rewards, perverse discounting of the future to present values, perverse incentives of executives vs. other stakeholders, and lack of accountability structures that all get in the way. It's a tough business, assessing, valuing, and then protecting that natural capital. More power to everyone working on it!