Only 24% of organizations have a biodiversity strategy in place
Only 24% of organizations have a biodiversity strategy in place GlobeNewswire
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Only 24% of organizations have a biodiversity strategy in place
Pres’s contact:
Victoire Grux
Tel: +33 6 04 52 16 55
Email: victoire.grux@capgemini.com
Introduction
Paris, September 18, 2023 – Despite nearly nine in ten executives stating that biodiversity is important to the planet, protecting it remains at the bottom of the corporate agenda, as greater emphasis is currently being placed on tackling climate change, according to the Capgemini Research Institute’s latest report, Preserving the fabric of life: Why biodiversity loss is as urgent as climate change. Currently, just 16% of organizations have already assessed the impact on biodiversity of their supply chain and only 20% for their operations.
Perceived lack of urgency amongst global executives
Nearly half (47%) of executives regard biodiversity loss as a medium-term risk for their businesses and 30% perceive it as a long-term risk (2050) while just 17% view it as an immediate concern – with significant regional differences in the perception of the biodiversity emergency. Ultimately, the report estimates that global corporate investment in biodiversity preservation represents less than 5% of what is needed from all stakeholders (public and private) in the next 10 years to reverse damage to the biodiversity ecosystem.
Strategies to protect biodiversity are lacking
Organizations are increasingly aware of the catastrophic consequences of the loss of biodiversity and other related ecosystem damage. However, only a quarter of organizations have a biodiversity strategy, with Australia (15%), Germany (16%), Canada (17%), and Italy (18%) lagging behind. These strategies may include initiatives such as investing in circular practices, developing science-based targets, or considering biodiversity impact on investment decisions. On average, land preservation or restoration projects are a bigger focus than freshwater and ocean projects. Furthermore, only 16% of organizations have completed an impact assessment of their supply chain on biodiversity and just 20% have done the same for their operations.
Biodiversity integral to supply chains
Many organizations have made biodiversity an integral consideration within their supply chain: of the executives surveyed, 58% say their organization has updated their supplier code of conduct to include biodiversity considerations, while about half mention that their organizations are investing in deforestation-free supply chains and require sustainable forest management practices from their suppliers.
Circular economy practices prove most popular
Necessary to addressing the biodiversity crisis are changes at organizational, behavioral, and cultural levels, with the adoption of circularity playing a critical role. Almost two-thirds of executives say their organization has implemented circular economy practices, such as recycling and reusing, and over half of organizations are taking steps to mitigate negative impacts on land and water.
Technology will play a critical role in tackling biodiversity challenges
A key part of the future of biodiversity conservation and restoration will include the integration of artificial intelligence (AI) solutions alongside blockchain technology and sensors to simplify the monitoring and tracing of diverse populations, encompassing animals, birds, and plants. Leveraging AI and robotics can aid in species tracking while minimizing disruptions to the surrounding biodiversity. Synthetic biology will also be part of the solution to some of the most severe threats to the environment including reducing chemical and plastic pollution. In fact, almost three-quarters of executives agree that digital technologies will also be key to their organization’s biodiversity efforts. To that end, organizations are particularly investing in AI and machine learning (31%), followed by 3D printing (30%), and robotics (28%).
Conclusion
“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,” comments Cyril Garcia, Group Head of Global Sustainability Services and Corporate Responsibility and Group Executive Board Member at Capgemini. “It’s time for businesses to proactively address the issue and get ahead of mandatory regulations that are on their 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.”
Methodology
The Capgemini Research Institute surveyed 1,812 executives from 15 different industries and employed at organizations with more than $1 billion in annual revenue across 12 countries in North America, Europe, and Asia-Pacific: Australia, Canada, France, Germany, India, Italy, Japan, the Netherlands, Spain, Sweden, the United Kingdom, and the United States. Executives comprised of director-level and above and 50% were from sustainability functions, such as environmental management, conservation, climate change, and corporate social responsibility. Of the total sample, 1,643 executives (66
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 15: Life on Land | Target 15.1: By 2020, ensure the conservation, restoration, and sustainable use of terrestrial and inland freshwater ecosystems and their services, in particular forests, wetlands, mountains, and drylands, in line with obligations under international agreements. | Indicator not mentioned in the article. |
| SDG 12: Responsible Consumption and Production | Target 12.6: Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle. | Indicator not mentioned in the article. |
| SDG 13: Climate Action | Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning. | Indicator not mentioned in the article. |
1. Which SDGs are addressed or connected to the issues highlighted in the article?
SDG 15: Life on Land
The article discusses the importance of biodiversity and the need to protect and restore it. This aligns with SDG 15, which aims to ensure the conservation, restoration, and sustainable use of terrestrial ecosystems.
SDG 12: Responsible Consumption and Production
The article mentions the need for organizations to adopt sustainable practices and integrate sustainability information into their reporting cycle. This relates to SDG 12, which focuses on promoting responsible consumption and production.
SDG 13: Climate Action
Although not the main focus of the article, it mentions that organizations are currently prioritizing climate change over biodiversity. This connection between climate change and biodiversity aligns with SDG 13, which aims to take urgent action to combat climate change and its impacts.
2. What specific targets under those SDGs can be identified based on the article’s content?
Target 15.1: By 2020, ensure the conservation, restoration, and sustainable use of terrestrial and inland freshwater ecosystems and their services, in particular forests, wetlands, mountains, and drylands, in line with obligations under international agreements.
The article emphasizes the need for organizations to have a biodiversity strategy and assess the impact of their supply chain and operations on biodiversity. This aligns with the target of conserving, restoring, and sustainably using terrestrial and freshwater ecosystems.
Target 12.6: Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle.
The article highlights the importance of organizations adopting sustainable practices and considering biodiversity impact in their investment decisions. This relates to the target of encouraging companies to adopt sustainable practices and integrate sustainability information into their reporting cycle.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
Unfortunately, the article does not mention any specific indicators that can be used to measure progress towards the identified targets. However, indicators such as the percentage of organizations with a biodiversity strategy, the completion rate of impact assessments on supply chain and operations, and the adoption of circular economy practices could be potential indicators to measure progress.
4. SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 15: Life on Land | Target 15.1: By 2020, ensure the conservation, restoration, and sustainable use of terrestrial and inland freshwater ecosystems and their services, in particular forests, wetlands, mountains, and drylands, in line with obligations under international agreements. | Indicator not mentioned in the article. |
| SDG 12: Responsible Consumption and Production | Target 12.6: Encourage companies, especially large and transnational companies, to adopt sustainable practices and to integrate sustainability information into their reporting cycle. | Indicator not mentioned in the article. |
| SDG 13: Climate Action | Target 13.3: Improve education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning. | Indicator not mentioned in the article. |
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: globenewswire.com
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