Biodiversity and economic activity are closely interlinked: Ecosystem services ranging from pollination to flood protection underpin much of the global economy. Hence, any threats to biodiversity – and to nature as a whole – jeopardise our prosperity. It is estimated that nature loss could undermine half of the USD 44 trillion global GDP.
Nature-positive action can help turn the tide, result in billions of dollars of business opportunities and create millions of jobs. Inaction, on the other hand, can lead to various systemic risks: Damaged and destabilised ecosystems would result in drought, famine, disease, and the inevitable mass migrations and conflict that accompany these unexpected, but predictable, disasters.
We believe it is time for us as individuals, but also as businesses, investors, governments and communities to act.
In our new white paper, Sustainable by nature: our biodiversity roadmap, we set out these areas for accelerated action:
- ESG integration: We are working with industry to enhance the quality and availability of biodiversity data / we are incorporating biodiversity risks and opportunities into our approach to ESG integration / we are working on a pilot tool to measure biodiversity
- Stewardship: We are addressing biodiversity governance, risk management, and responsible lobbying / we are engaging with the highest impact industries on deforestation and water / we are playing an active role on public policy related to biodiversity and investments
- Responsible business conduct: We are enhancing the biodiversity aspects of our policies in periodic reviews
- Forward-looking perspective: We are working to boost the understanding of biodiversity
issues in the investment community / we are providing thought leadership on the role the investment community can play in safeguarding biodiversity
- Sustainable + range: We are offering solutions targeted at solving biodiversity challenges
- Corporate social responsibility: We are raising awareness of biodiversity issues through employee engagement and education initiatives.
We believe this action plan helps address the need in our industry for new tools and new approaches based on quality data, and standardised metrics & reporting to tackle the serious threats to biodiversity and the myriad of opportunities that solving the challenges can provide.