Natural and Social Capital Accounting

The A4S CFO Network focusses on delivering tangible outcomes and undertakes a number of projects each year to develop practical guidance on specific areas of financial decision making, or risk management. The projects are selected by the CFOs and each can choose for their organization to take part in one, or all, projects by nominating a suitable representative to join the relevant team. 

As part of the Natural and Social Capital accounting project the team produced a guide for finance teams as part of the A4S Essential guide series.

Download the Natural and Social Capital accounting guide >


The aim of the project was to improve business decision making by enabling organizations to improve the quantification of environmental and social business impacts and dependencies, and the integration of this information within decision making processes. 


An increased understanding of the impacts and dependencies of business operations on the environment, society and economy will allow business to estimate future risks and opportunities more effectively within decision making. This will help to 'future-proof' decision making and lead to more resilient business models.

Measurement and valuation of social capital is typically less advanced and there is currently less alignment between different methodologies.


Practical guidance was developed with a range of tools, case studies and tips for finance professionals.

Download the Natural and socal capital accoutning guide >

Project members

Projects members are essential to the running of all A4S projects, and represent CFOs from the A4S CFO Leadership Network.

The members of this project were:

  • Jane Baptist, Deputy Head of Sustainability, The Crown Estate
  • Alex Christofis, Financial Reporting Manager - Projects, British Land
  • Jonathan Dobson, Sustainability Strategy Manager, United Utilities Group
  • Marc Furlonger, Head of Forecasting and Financial Reporting, The British Land Company
  • Martin Gee, Head of Finance and Investment Planning - Wholesale, United Utilities Group
  • Chris Gerrard, Climate Change and Biodiversity Manager, Anglian Water
  • Ian Glover, Environmental Sustainability Manager, National Grid
  • Mark Gough, Head of Sustainability, The Crown Estate
  • Joseph Griffin, Head of Environment and Environmental Wellbeing, Bupa
  • Richard Harris, Head of Financial Planning and Reporting, Marks and Spencer
  • Rowland Hill, Sustainability and Reporting Manager, Marks and Spencer
  • Helen Holmes, Group Financial Reporting Manager, Marks and Spencer
  • Rebecca Rajeswaran, Head of Group Financial Planning and Reporting, Marks and Spencer
  • Gordon Rogers, Manager of Sustainability and Strategy, Yorkshire Water
  • Louise Rowe, Finance Director , Pennon (South West Water)
  • Roger Seabrook, VP of Finance Marketing and Sustainability, Unilever
  • Justin Snoxall, Head of the Business Group, British Land
  • Anne Thomas, Financial Controller, The Crown Estate