Importance The article explores the natural capital within the framework of company's integrated reporting analysis. Objectives The aim is to develop a methodology of complex analysis of natural capital, taking into account the information to be provided in the integrated reporting. Methods The methodological basis includes objective principles of the systems approach, concepts of economic analysis, logical and comprehensive approach to assessment of economic phenomena and processes. Results We developed a method to analyze the natural capital, which includes five stages. The first stage analyzes the availability of natural capital, the pattern of its consumption and supplies, and calculates its movement indicators. The second stage focuses on assessing the efficiency of the natural capital utilization, and calculating the key performance indicators, i.e. natural capital productivity and intensity. The third stage explores the environmental damage caused by the company, efficiency of its nature protection activities, intensity of emissions and discharges, and calculates the tax to revenue ratio to the extent of environmental taxes and charges, and the share of environmental subsidies and transfers in total revenues. Next stage assesses the natural capital's quality, defines the resource rent, the value and cost of capital, and the last stage provides adjustments to company's economic performance indices based on the use of natural capital and environmental damage. Conclusions The natural capital analysis problems are investigated at the enterprise level. We offer a methodology of complex analysis, which may be useful for analysts evaluating the company's performance based on integrated reporting.
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