Our key takeaway: We’ve spoken many times about how rich and diverse ecosystems underpin all life on earth, and the goods and services we use in surplus. These two things cannot co-exist. Our consumption now requires the natural resources of 1.75 earths, instead of one, which means our demands significantly exceed nature’s capacity to continue providing us with resources. Up to 1 million out of 8 million species are threatened with extinction, many within decades. This will directly impact human health and wellbeing and companies’ ability to operate now and in the future. Despite this, the share of corporate initiatives targeted at biodiversity loss is minimal relative to the importance of diverse ecosystems, and even declining over time. We do know, however, that there is corporate appetite to tackle biodiversity loss given the upward trend of business model transformation initiatives aimed at integrating biodiversity-related risks and opportunities into business strategies and operations. What can companies do now? Scale up their impact-driven biodiversity-related initiatives. Involve key stakeholder groups, such as local communities, in the development of nature-based solutions. Work with others to leverage resources and knowledge so as to incentivise value chain partners to set their own biodiversity targets.
Imperial College Business School published The evolution of corporate behaviour to tackle biodiversity challenges (2023):