In a world where the line between business and nature & biodiversity often appears distorted, we, in KPMG, have recently launched a webinar on this pressing topic and TNFD (Task Force on Nature-related Financial Disclosures) to unveil important insights that demand our attention. For professionals seeking to make a positive impact on the planet while reinforcing their businesses, these insights are a beacon of hope and a roadmap to change.
These are key insights from our biodiversity webinar – linking the TNFD to your business strategy:
Understanding nature and biodiversity:
Nature, often viewed as the living tapestry of our planet, encompasses the interactions among living organisms and their environment, from lush forests to vast oceans. Biodiversity, on the other hand, is the essence of nature—it is the diversity within species, between species and of ecosystems. This distinction is vital as it guides us to safeguard the intricate web of life on Earth.
The significance of biodiversity hotspots:
Our planet's biodiversity is not distributed evenly; instead, it clusters in 36 key areas worldwide, constituting just 2.5% of Earth's surface. These hotspots, rich and diverse ecosystems, are home to more than half of the world's endemic species. For example, the Tropical Andes Biodiversity Hotspot houses one-sixth of all plant life on Earth, with half of its species found nowhere else. Yet, these vital regions are under threat from human development, deforestation, oil extraction and more.
The five core causes of biodiversity loss:
All biodiversity loss stems from human activity driven by land and sea changes, overexploitation, climate change, pollution and the introduction of invasive species. These five factors emphasise our responsibility to address these issues urgently.
Businesses and biodiversity:
Companies wield significant power in either harming or helping nature. The ACT-D Framework, supported by esteemed organisations, provides a roadmap for businesses to act responsibly:
- Assess: Measure, value and prioritise impacts on nature.
- Commit: Set transparent science-based targets.
- Transform: Contribute to system transformation and advocate for policy change.
- Disclose: Track and publicly report nature-related information.
Case studies demonstrate how businesses are successfully adopting these principles.