Climate crisis is a nature crisis
Investors and customers call companies to take responsibility for their impact on biodiversity. It is about ensuring future social license to operate and availability of funding. UN Biodiversity Conference in Montreal further raised the importance of the topic by concretizing global goals.Biodiversity loss will have significant effects on business in the short and long term, both directly and indirectly. There are operational, reputational, market, regulatory and financial risks involved. The risks can materialize, for example, as increasing costs and material availability problems. However, also opportunities for new practices, business models, and value creation arise. At its best, action on biodiversity supports other business goals such as on CO2 reduction and circularity. Considering these together allows discovering synergies and helps prioritizing actions.
We work with our clients to help them to get started on taking biodiversity action and these are the key steps
Understand the status quo:
The journey starts with understanding the dependencies of your business on biodiversity and the key impacts, not only in your own operations but by suppliers and customers alike.
Decide on the biodiversity strategy:
Once you understand the stating point, assess the possibilities to avoid, reduce and restore or regenerate the impacts.
Set tangible goals and plan actions:
Set goals and concretize the actions. Facilitate the discussion the level of ambition, time span, needed capabilities and uncertainties in the organisation. Define a strategy, road map, or portfolio to guide the work and include, e.g., commitment to net positive effects.
Launch and communicate:
Making the goals come true calls for activation and engagement including communication, partnerships, and capability development across your teams. Good metrics and accountable data drive success.
Future corporate responsibility calls for a real desire to move forward and honesty to be open also about unresolved issues. As the rules of the game for biodiversity are still taking shape businesses benefit from proactively strengthening understanding and discovering good practices with others.
We at Impaktly help companies to understand the business impact of biodiversity and deliver successful approaches to managing it.