7 Nature Positive Business Strategies

Sustainable Business Strategies for Biodiversity Conservation

Published 4 hours ago

Submitted by Kaleidoscope Futures

Biodiversity loss poses a significant risk to businesses, with industries such as mining, oil and gas, forestry, agriculture, fishing, and tourism facing nature-related risks worth nearly $1.9 trillion, according to Moody’s Investors Service. However, businesses are often identified as major contributors to the biodiversity crisis. The Royal Society states that biodiversity loss is primarily driven by land use change, overexploitation of resources, climate change, and pollution.

Despite being seen as the villain, businesses also have the potential to be the hero in this story. Market investment opportunities of up to $93 billion by 2030 exist, according to the Paulson Institute. Here are seven business strategies that can contribute to a nature-positive future, ranging from incremental actions to transformational change:

1. Donating: Many businesses adopt a philanthropic approach by donating to foundations focused on conserving and restoring nature. However, these donations often fall short of addressing the company’s core business impacts on nature.

2. Offsetting: Carbon offsets, despite needing improvement, play a crucial role in biodiversity protection and restoration. For example, Apple has partnered with Conservation International to protect and restore a mangrove forest in Colombia, expected to sequester a million metric tons of CO₂ over its lifetime.

3. Greening: Creating habitats that attract biodiversity, such as living walls and roofs, is an effective strategy for businesses with buildings. IKEA’s award-winning living roof in the UK is an example of this approach.

4. Sourcing: Every company’s supply chain impacts biodiversity. Businesses can make a difference by sourcing organic and sustainably managed products and materials.

5. Innovating: Businesses can develop products and services that are inherently good for biodiversity, such as plant-based alternatives to reduce land use, water consumption, and greenhouse gas emissions.

6. Transforming: Industries, particularly agriculture, need to undergo transformation to halt and reverse biodiversity loss. Companies like Danone France, General Mills, and Nestle are leading the way by committing to regenerative agriculture practices.

7. Tipping: Radically reducing dependence on livestock farming through cultured meat and precision fermentation can have a transformative impact on biodiversity. Companies like Memphis Meats and Perfect Day are pioneers in these areas.

Integrating all seven strategies is essential for businesses to contribute effectively to halting and reversing biodiversity loss. Patagonia, for example, has integrated multiple strategies, including philanthropy, sustainable sourcing, and awareness campaigns, to preserve and restore the natural environment.

It is crucial for high-impact companies and sectors to transform their approach to achieve the goal of becoming “nature positive by 2030.” Business can play a key role in providing the necessary investment, innovation, and scaling of solutions to address the biodiversity crisis.

SDGs, Targets, and Indicators

1. SDGs Addressed or Connected:

   • SDG 14: Life Below Water
   • SDG 15: Life on Land
   • SDG 12: Responsible Consumption and Production
   • SDG 13: Climate Action
   • SDG 8: Decent Work and Economic Growth

   The article discusses the biodiversity crisis and its impact on various sectors, including mining, oil and gas, forestry, agriculture, fishing, and tourism. These sectors are connected to SDG 14 (Life Below Water) and SDG 15 (Life on Land), which focus on the conservation and sustainable use of marine and terrestrial ecosystems. The article also mentions the need for responsible consumption and production practices (SDG 12), climate action (SDG 13), and the role of business in promoting decent work and economic growth (SDG 8).

2. Specific Targets:

   • Target 14.2: By 2020, sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience, and take action for their restoration in order to achieve healthy and productive oceans.
   • Target 15.5: Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of biodiversity, and protect and prevent the extinction of threatened species.
   • Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.
   • Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning.
   • Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation, including through a focus on high-value-added and labor-intensive sectors.

   The article highlights the need to sustainably manage and protect marine and coastal ecosystems (Target 14.2) and take action to reduce the degradation of natural habitats and protect biodiversity (Target 15.5). It also emphasizes the importance of sustainable resource management (Target 12.2), raising awareness about climate change (Target 13.3), and promoting economic growth through innovation (Target 8.2).

3. Indicators:

   • Indicator 14.2.1: Proportion of national exclusive economic zones managed using ecosystem-based approaches.
   • Indicator 15.5.1: Red List Index.
   • Indicator 12.2.1: Material footprint, material footprint per capita, and material footprint per GDP.
   • Indicator 13.3.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning measures into primary, secondary, and tertiary curricula.
   • Indicator 8.2.1: Annual growth rate of real GDP per employed person.

   The article does not explicitly mention these indicators, but they can be used to measure progress towards the identified targets. For example, Indicator 14.2.1 can assess the proportion of national exclusive economic zones managed using ecosystem-based approaches, indicating the extent of sustainable management of marine and coastal ecosystems. Indicator 15.5.1, the Red List Index, can measure the conservation status of threatened species and the effectiveness of efforts to prevent extinction. Indicator 12.2.1 can track the material footprint and resource efficiency of economic activities, reflecting progress in sustainable resource management. Indicator 13.3.1 can evaluate the integration of climate change education into educational curricula, indicating improved awareness and capacity building. Indicator 8.2.1 can measure economic productivity and growth per employed person, reflecting progress in promoting decent work and economic growth.

SDGs, Targets, and Indicators Table

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: csrwire.com

Join us, as fellow seekers of change, on a transformative journey at https://sdgtalks.ai/welcome, where you can become a member and actively contribute to shaping a brighter future.