Becoming a Nature Positive Business
New Guidance Released
Talks for the biodiversity COP15 began last week in Montreal and the WBCSD (World Business Council for Sustainable Development) has now launched guidance on aligning business actions with the global 2030 net positive biodiversity goal.
The resource sets out 6 specific actions which businesses can take:
- An ‘initial materiality assessment’ which will basically determine the business’ impact on nature
- Based on the initial assessment, setting targets that are grounded in climate and nature science
- Deploying adequate resources - such as time, money and well-trained staff - to support the delivery of these targets
- Supporting an enabling policy environment by aligning industry engagement and lobbying action with nature targets
- Using credible metrics
- Regularly and transparently reporting progress towards the targetss
Large businesses of all sectors can use the resource, with the WBCSD pushing for more firms in sectors with high negative impacts on nature – including energy, the built environment, agriculture and forestry. It’s all about reversing the negative impacts and moving towards biodiversity net gain.
The resource is a part of the WBCSD’s partnership with the TNFD (Taskforce on Nature-related Financial Disclosures) and the SBTN (Science Based Targets Network). The TNFD launched a third beta version of their framework last month and is aiming to publish a final version in 2023.
Among the measures being negotiated are mandatory nature-related reporting requirements for some large businesses.
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