Biodiversity a blind spot for majority of organizations worldwide

Report: Only a Quarter of Organizations Have Strategies to Address Biodiversity Loss

Only a quarter of organizations worldwide have devised strategies to address biodiversity loss. That is according to a new report from Capgemini, which surveyed the attitudes towards biodiversity of nearly 2,000 executives in 12 countries.

Importance of Biodiversity

With the ongoing climate crisis putting immense pressure on organizations to address their impact on the environment, 86% of executives reported that they believed biodiversity is important to the planet. Despite that, very few organizations have actually done anything about it, with notably fewer executives (63%) saying they believed biodiversity was important to their own company.

Lack of Action and Strategies

Only around 16% of organizations have assessed the impact on biodiversity of their supply chains and only 20% for their operations. And only around a quarter of companies have devised actual strategies for addressing negative impacts on biodiversity, with countries like Australia (15%), Germany (16%), Canada (17%) and Italy (18%), in particular, lagging behind.

“Every business depends on biodiversity and ecosystems: whether it is direct inputs such as water or fibers, or ‘ecosystem services’ like water regulation or soil fertility, a thriving and functioning biosphere is critical to human well-being, wider sustainability goals as well as economic growth and stability. However, many organizations underestimate their direct impact on biodiversity loss, and their responsibility in protecting and restoring it,” said Cyril Garcia, board member at Capgemini.

Understanding the Connection with Climate Change

According to the survey, almost 9 out of 10 executives say they understand that climate change and biodiversity are connected, with 88% believing that preserving biodiversity can help tackle climate change.

But despite that, concerns about climate change take center stage, to the detriment of more focus on biodiversity. 57% of executives feel customers care more about climate change, and 56% think the same about employees. Also, over half of the surveyed executives (53%) see biodiversity as less of a priority than climate change.

Private Companies’ Role in Addressing Biodiversity

Despite the huge impact industry has on loss of biodiversity, habitat loss, and other damage to the environment, a majority of the executives surveyed said that they agree it is not the role of a private company to address biodiversity.

Some companies, in contrast, have already actively been investing large sums into biodiversity projects. For example, Apple has doubled its total commitment to advancing nature-based carbon-removal projects and invested $200 million in a project that aims to protect critical ecosystems. Amazon also invested $100 million into their own project, created in 2019, which looks to restore and conserve forests, wetlands, and grasslands.

Industry Breakdown

Breaking it down by industries, 26% of companies in the consumer goods sector have looked into how their operations affect biodiversity – the most among all sectors. On the flip side, the public/government sector is at the bottom with only 14% doing the same. When it comes to supply chains, the retail sector is leading the pack, with a 26% completion rate for impact assessments. Meanwhile, agriculture and forestry are lagging behind, with only 10% completing their assessments.

“It’s time for businesses to proactively address the issue and get ahead of mandatory regulations that are on the way, especially as many solutions and frameworks such as the Task Force on Nature-related risks Disclosure and regenerative practices are already available to help protect biodiversity. Collaboration, investment and innovation will all be key to helping organizations identify and implement strategies for biodiversity protection and preservation,” said Garcia.

SDGs, Targets, and Indicators in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 13: Climate Action
• SDG 15: Life on Land

The article discusses the importance of addressing biodiversity loss and its connection to climate change. These issues align with SDG 13, which focuses on taking urgent action to combat climate change and its impacts, and SDG 15, which aims to protect, restore, and promote sustainable use of terrestrial ecosystems.

2. What specific targets under those SDGs can be identified based on the article’s content?

• SDG 13.2: Integrate climate change measures into national policies, strategies, and planning.
• SDG 15.5: Take urgent and significant action to reduce degradation of natural habitats.

The article highlights the lack of strategies and assessments by organizations to address biodiversity loss. To achieve SDG 13.2, organizations need to integrate measures to address biodiversity loss into their policies and strategies. Additionally, the low completion rates of impact assessments on biodiversity in supply chains and operations indicate a need for urgent and significant action to reduce degradation of natural habitats, as targeted by SDG 15.5.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Percentage of organizations with strategies to address biodiversity loss.
• Percentage of organizations that have assessed the impact on biodiversity in their supply chains and operations.
• Percentage of companies that have devised strategies for addressing negative impacts on biodiversity.
• Percentage of executives who understand the connection between climate change and biodiversity.
• Percentage of executives who believe preserving biodiversity can help tackle climate change.
• Percentage of executives who see biodiversity as a priority compared to climate change.
• Percentage of companies in different sectors that have assessed the impact of their operations on biodiversity.

The article mentions several indicators that can be used to measure progress towards the identified targets. These indicators include the percentage of organizations with strategies to address biodiversity loss, the percentage of organizations that have assessed the impact on biodiversity in their supply chains and operations, and the percentage of companies that have devised strategies for addressing negative impacts on biodiversity. Additionally, the article provides indicators related to executive understanding and prioritization of biodiversity, as well as sector-specific indicators for assessing the impact of operations on biodiversity.

Table: SDGs, Targets, and Indicators

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: consultancy.eu

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