Biodiversity loss is as much an existential threat as climate change, with significant impacts on the economy and business. We have already lost 69% of species in the past 50 years, and one million more are threatened with extinction. Every year, we only replace half of the forests we cut down. Over a third of our fish stocks are being over-fished. By 2050, we will have more plastic than fish in the ocean.
Ecosystem services — the services provided by nature — are essential to our economy, contributing to over half of global GDP, or $44tn every year. Consider nature’s direct contributions and what’s at stake if something happens:
Already, governments and regulators have begun to take notice and legislate. Businesses can show leadership on this emerging political agenda by:
Embedding biodiversity in climate strategies: This makes for more effective and long-lasting carbon reductions.
Focusing on a “nature-positive” strategy: It is not enough to be neutral or net zero; businesses should aspire to restore and renew biodiversity as an investment in the future.
Investing in measuring the company’s impact on biodiversity: across operations and supply chains. Expertise can be outsourced, but “nature- positive” teams should have the resources to measure baselines and progress.
Setting concrete targets: This will be an iterative process, and the earlier companies engage, the more influential they will be in shaping future standards.
Testing and learning from experimental projects: like voluntary biodiversity credits, and new monitoring technologies such as environmental DNA (eDNA), passive acoustic monitoring (ecoacoustics), and artificial intelligence (AI).
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Thinking Fast and Slow by Daniel Kahneman
Leaders regularly need to make decisions under intense pressure. Pierluigi Collina, one of the world’s most respected football referees, reveals how to make the best choices possible in the heat of the...
When confronted with difficult questions, we immediately think about what we should say, rather than how we say it – but non-verbal signals often carry more weight than words, greatly increasing the...
Leaders face multiple challenges in managing relationships every day – but fighting every battle can drain energy and disrupt the organization. Ask yourself the questions below to assess whether you’re tackling the...
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