The ESE-ROVA Tool
Sustain Value has created ESE-ROVA, a flexible cost-effective natural and social capital accounting tool for use by businesses to support their decision-making.
ESE-ROVA stands for Environmental, Social and Economic: Risk, Opportunity and Valuation Assessment. It is an integrated 'framework' based Excel tool that aligns with the forthcoming Natural Capital Protocol. A key advantage of the tool is that it can be adapted for many different business applications for any sector.
It can help companies to:
- identify their impacts and dependencies on natural capital (e.g. biodiversity and mineral resources) and other environmental parameters (e.g. air emissions and waste), as well as their social and economic capital and impacts
- evaluate and manage associated risks and opportunities
- determine the qualitative, quantitative and/or monetary value of associated impacts
- compare trade-offs on a like for like basis
- assess the extent to which different stakeholders are affected
- establish whether a project or product is providing a net positive impact
It was originally initiated as the EROVA tool (covering only environmental issues), and has been developed in conjunction with the Chilean mining company, Antofagasta Minerals S.A. to help them evaluate opportunities and progress towards their goal of 'creating environmental value' at their mining operation sites.
The EROVA tool has been successfully applied to several mining operations and associated conservation initiatives (see the Natural Capital Business Hub - Antofagasta EROVA Case). The ESE-ROVA tool has subsequently been applied to several project appraisals, including for comparing water supply options and waste disposal/recycling options.
The EROVA Natural Capital Group has been established to encourage other companies to adopt the ESE-ROVA tool and adapt it to their circumstances. Benefits to companies from joining the Group include access to the tool and future updates, as well as learning from other business users.
Sustain Value is currently seeking other companies to join the Group, so if interested, please do contact us.