Our key takeaway: Life as we know it depends on diverse and balanced ecosystems. The food that we eat and the raw materials that companies use to produce goods and services to enable life to take place depends on diverse and balanced ecosystems. The value of ecosystem services is US$125-140 trillion per year. Yet companies’ production, and our consumption, of goods and services are causing biodiversity loss at an alarming rate - 100 to 1,000 times higher compared to the last million years! We are willingly destroying the very fabric of life we, and the planet, depend on. Not only will this lead to human catastrophe on a scale we’ve never seen before, but companies will also face unprecedented challenges to remain viable if they do not transition their operations and business models to be nature-positive. Directors need to make it their mission to reorient the business to respect and protect nature. Failure to do so will pose significant legal, financial and reputational risks that will be difficult to survive given the direction of travel; directors will increasingly be called on to disclose biodiversity-related risks and opportunities, as well as pivot their business strategies and processes to factor biodiversity risks in all decisions going forward. Directors - if you want your company to stay ahead of the game, the time to consider biodiversity is now.
Commonwealth Climate and Law Initiative (CCLI) published its report Biodiversity Risk: Legal Implications for Companies and their Directors (December 2022):