On World Biodiversity Day, a look at how companies can account for nature
On World Biodiversity Day, a Look at How Companies Can Account for Nature Newsweek
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Climate Crisis and Biodiversity Threats
As the world experiences record-breaking temperatures, the climate crisis is becoming increasingly apparent. However, climate change is not the only environmental threat we face. Scientists are also raising alarms about a biodiversity crisis, with habitat loss and extinction putting up to a million species at risk.
International Union for the Conservation of Nature Report
On the International Day for Biological Diversity, the International Union for the Conservation of Nature released a report highlighting the risks to more than half of the world’s mangrove ecosystems. These vital habitats are threatened by development, pollution, and sea level rise. The United Nations Environment Programme advocates for a comprehensive approach to tackle both climate change and biodiversity loss, emphasizing the role of the private sector.
Corporate Actions on Environmental Impact
While many companies are actively monitoring and reducing greenhouse gas emissions, there is a lack of systematic measures to address business impacts on nature. The Taskforce on Nature-related Financial Disclosures (TNFD) aims to develop business disclosure practices that account for impacts on nature, recognizing the economic value of ecosystem services such as pollination, which contributes over $3 trillion globally to the economy.
- Climate Disclosure Practices
- TNFD’s 14 Recommendations for Nature-related Information
- World Economic Forum’s Early Adopter Companies
Science Based Targets Network Initiative
The Science Based Targets Network (SBTN) is another initiative helping businesses understand and act on their biodiversity impacts. SBTN provides methods for companies to set measurable targets on their environmental impact, integrating nature and climate considerations for more effective solutions.
- Carbon-offset Tree Plantations as a Cautionary Tale
- Integrating Nature and Climate Goals
Businesses Adopting Comprehensive Nature Strategies
Business for Nature’s campaign, It’s Now for Nature, announced the first companies to adopt comprehensive nature strategies. These strategies are crucial for businesses like GSK, which recognizes the importance of nature in human health and medicine production.
Regulation and Investor Pressure Driving Nature Disclosures
Regulatory mandates, such as the E.U.’s Corporate Sustainability Reporting Directive, and investor pressure are significant drivers for companies to adopt nature strategies and disclosures. However, commitments must be followed by action to address the escalating risks to both the planet and businesses.
Conclusion: Urgency for Action
The upcoming international negotiations on biodiversity in Colombia present an opportunity for countries and businesses to take concrete steps towards protecting nature. With the risks increasing, quick action is essential to address both climate change and biodiversity loss.
SDGs Addressed in the Article
The article addresses several Sustainable Development Goals (SDGs) including:
- SDG 13: Climate Action
- SDG 14: Life Below Water
- SDG 15: Life on Land
Specific Targets Under the SDGs
Based on the article’s content, specific targets under the SDGs can be identified as follows:
- Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters.
- Target 14.2: Sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts.
- 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.
Indicators Mentioned or Implied in the Article
The article implies several indicators that can be used to measure progress towards the identified targets, including:
- Indicator for Target 13.1: Number of countries with national and local disaster risk reduction strategies.
- Indicator for Target 14.2: Proportion of national exclusive economic zones managed using ecosystem-based approaches.
- Indicator for Target 15.5: Red List Index or species survival index.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 13: Climate Action | Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters. | Indicator: Number of countries with national and local disaster risk reduction strategies. |
| SDG 14: Life Below Water | Target 14.2: Sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts. | Indicator: Proportion of national exclusive economic zones managed using ecosystem-based approaches. |
| SDG 15: Life on Land | 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. | Indicator: Red List Index or species survival index. |
Copyright: Dive into this article, curated with care by SDG Investors Inc. Our advanced AI technology searches through vast amounts of data to spotlight how we are all moving forward with the Sustainable Development Goals. While we own the rights to this content, we invite you to share it to help spread knowledge and spark action on the SDGs.
Fuente: newsweek.com
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