Posted on 01 June 2022
WWF has launched a new report to help businesses in addressing the biodiversity crisis.
1 June 2022, Stockholm: All businesses directly or indirectly depend on biodiversity and ecosystems for their profitability. Companies rely on nature for direct inputs like water or fibres, or on business-enabling ecosystem services like pollination, water regulation and soil fertility. On the other hand, biodiversity loss can expose companies to resource scarcity, value chain disruptions, reputational damage or increased operational costs.
The new report, titled ‘A Biodiversity Guide for Business’ sets out WWF’s approach for identifying, assessing and addressing biodiversity risks as well as the opportunities that come from conserving, sustainably using and restoring biodiversity. For many companies, much of their risk can lie within their value chain. There is a critical need for companies that advance value chain transparency and an understanding of the locations that pose the highest risks.
Some of the benefits of shifting operational practices and investing in sustainable business models identified in the report include:
1. Cost savings and increases in operational efficiency;
2. New revenue streams and access to new markets; and
3. Better stakeholder relationships and corporate image.
The report was discussed during a roundtable on “Business and Biodiversity Action” in association with Stockholm+50 where companies discussed challenges and solutions to driving concrete business action on biodiversity.
Marco Lambertini, Director General of WWF International, said:
“From the discussions that took place during the business roundtable, it is evident that companies are beginning to recognize just how serious the threat of biodiversity loss is to their bottom line and their long-term viability. They also acknowledge the enormous challenges but also opportunities involved in making the transition to nature-positive business practices across their respective operations and value chains.
We are confident that this new guide will help ensure they realize these ambitions and the commitment they have demonstrated here sets a precedent for the Stockholm +50 talks that will take place over the next few days.”
Dr. Margaret Kinnaird, Wildlife Practice Leader, WWF International
The World Economic Forum estimates that 44 trillion USD of value generation, representing more than 50% of global GDP, is dependent on nature, biodiversity and the services it supports. The corporate sector drives much of the global economy which means that businesses can no longer afford to ignore the biodiversity crisis especially when ‘business as usual’ comes at the cost of their own long-term survival.
WWF has developed tools and programs to support companies in their biodiversity stewardship journeys and this latest report provides a roadmap for protecting wildlife and wilderness and restoring the natural resources and ecosystems that underpin not only their businesses but our life support systems.”
Over 50 leading companies comprising mainly sustainability managers and technical experts working on integrating a robust strategy into their business models attended the roundtable discussion and the report launch With business leaders increasingly recognizing the risks nature loss poses to the global economy, business action on nature was also a hot topic at Davos last week, and more than 1,100 companies are calling on governments to take action to reverse biodiversity loss.
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WWF is an independent conservation organization, with over 30 million followers and a global network active in nearly 100 countries. Our mission is to stop the degradation of the planet's natural environment and to build a future in which people live in harmony with nature, by conserving the world's biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption. Visit panda.org/news for the latest news and media resources; follow us on Twitter @WWF_media