The Why, What, and How of Corporate Biodiversity Action
The approach towards corporate biodiversity action shows similarities with that of climate action at several points along the way.
By Gaya Herrington, VP ESG Research at the Schneider ElectricTM Sustainability Research Institute
An introduction for Manufacturing Companies
With almost 70% of wildlife already lost at what seem to be accelerating extinction rates, upwards of USD 20 trillion in economic damages from lost ecosystem services a year, and another USD 53 trillion globally at risk from further biodiversity losses, it is abundantly clear that business as usual is no way forward. Current business practices cause too many negative impacts on society, not just on nature but also on human health. The feedback effects from these negative impacts find their way back to corporations through various channels, including direct or supply chain dependencies, and legal, regulatory, reputational, and financial exposure risks. There can and have been delays in these feedback mechanisms, but today, they may have accumulated to the point where corporate biodiversity action makes sense not just from a moral standpoint, but also from a purely economic one. This report provides a first view of what this may entail for companies, especially those in manufacturing, that are ready for real corporate biodiversity action.