How Can Business Build Back Better? | WWF
How Can Business Build Back Better?

Posted on 07 July 2020

This is the question on many companies' minds as the COVID-19 crisis continues to grip the world.
Many countries have announced stimulus packages focused on investments in existing or brown industries. At best this maintains the status quo, and at worst, it take us backwards, ignoring the fact that continuing to exploit and degrade natural resources and natural systems as we do today increases the risk of future pandemics and undermines our future prosperity.

Nature provides us with around $125 trillion in economic value every year, so it is worth protecting and restoring.

In crisis comes opportunity, and now is our chance to deliver systemic change for more sustainable and resilient economies and societies. Investment in low carbon development and nature-based solutions is crucial for a green, just, and resilient recovery. And businesses of all kinds can play a major role in driving change.

With a multitude of initiatives and approaches on offer, what is the best recipe?

During the 2020 Virtual Responsible Business Week, WWF and partners led a workshop focusing on what companies looking to renew purpose and build back better can do using this simple framework:
   
  • ACT – Companies can deliver on commitments by acting for nature in places that are important for wildlife and biodiversity, especially those where they operate or from which they source commodities like timber or palm oil. Leading companies are working together through initiatives such as the One Planet Business for Biodiversity and working on landscape restoration to protect and regenerate nature.
 
  • ADVOCATE – Companies can present a united business voice for nature and influence decision-makers in key business and policy fora by joining the Business for Nature coalition and calling on government to implement more ambitious policies for nature by signing up to its Call To Action and supporting its policy recommendations.


Watch the recording of the workshop webinar here.

The pandemic has highlighted the critical importance of sustainability, healthy natural systems and resilient supply chains. Consumers are asking for more from business. Now is the time to act.

Contact WWF to find out more about how to commit, act and advocate for nature, and sign up for WWF’s upcoming report on landscape approaches for sustainable business here.

A female engineer against a background of wind turbines.
© Istockphoto.com / WWF-Canada