ISO is balloting on whether to develop a new guidance standard to support organisations in determining and communicating the costs and benefits of their impacts and dependencies on natural resources and ecosystem services.
If the vote is in favour, the new standard, ISO 14007, would build on ISO 14008, which covers monetary valuation of environmental impacts from emissions and the use of natural resources.
The development of 14008 was approved by a ballot in September 2015 and aims to standardise monetary valuation techniques. The ISO noted a strong trend among governments, private companies and academics for monetary assessments, so it decided to assist businesses and policymakers by developing a standard to establish a common language for such activity.
The process of developing 14008 is under way and a draft is planned for publication by the end of the year, with the final version appearing in 2018. The ballot on 14007 ends in mid-July.