Leveraging the Five Capitals Model: A Blueprint for Sustainable Construction with K2 Consultancy.
In an era defined by climate change and resource depletion, the construction industry faces a critical challenge: delivering projects that not only meet immediate needs but also contribute to a sustainable future.
The concept of Five Capitals first appeared in J Porritt’s book ‘Capitalism As If The World Matters’ 2005. K2 has adopted the Five Capitals model as a framework for decision-making to deliver sustainable outcomes. K2 work through the model with their clients to maintain and where possible enhance these stocks of capital assets, rather than deplete or degrade them.
The Five Capitals Model
The Five Capitals Model focuses on five key areas, or “capitals,” that are essential for sustainable development:
- Natural Capital: This includes all the resources provided by the natural environment, such as clean air, water, biodiversity, and ecosystems. Preserving and enhancing natural capital is crucial for long-term sustainability.
- Human Capital: Human capital encompasses the knowledge, skills, and health of individuals and communities. Investing in human capital ensures that people are empowered to participate in and benefit from sustainable development.
- Social Capital: Social capital refers to the relationships, networks, and trust within a community or society. Strong social capital is essential for fostering cooperation, inclusivity, and equitable development.
- Manufactured Capital: This represents the physical infrastructure, buildings, and technology that support society. Efficient use and responsible management of manufactured capital to reduce waste and environmental impact.
- Financial Capital: Financial capital includes the money, investments, and financial systems that drive economic activity. Aligning financial systems with sustainability goals can help fund projects that benefit society and the environment.
By applying the Five Capitals, K2 can support clients to make informed decisions that promote sustainability and efficiency. K2’s holistic approach considers not only the functional day-to-day requirements of the building but also the long-term impact on the environment, its impact on the well-being of users, staff and the wider community.
Insights: What’s most important – how cheap or how much value?