Climate change, biodiversity, and nature are inextricably linked and impact one another. We are facing a systemic market failure by taking nature for granted and considering it an externality. Over time, nature degradation comes at significant economic and societal costs and poses material financial risks.
Assessment and mitigation of these risks should be based on an integrated approach. Companies will fail to meet their net zero targets without properly taking account of their risks and impacts on biodiversity and nature. The nature agenda is moving at a much faster pace than climate did, and regulators and policy makers alike are responding to the risks posed by nature loss, issuing guidance, recommendations and requirements aimed at driving nature positive outcomes.
The integration of biodiversity considerations into corporate reporting frameworks is therefore a significant step towards fostering more sustainable business practices. By incorporating biodiversity into reporting standards, businesses are encouraged to adopt practices that protect the environment and foster responsible resource management. Today, biodiversity is incorporated in reporting frameworks such as the Corporate Sustainability Reporting Directive (CSRD), the Taskforce on Nature-related Financial Disclosures (TNFD), the Global Reporting Initiative (GRI) and the Science-based Targets Initiative (SBTi).
In the report below, you can gain more insights into this topic and how your company can navigate the reporting landscape on biodiversity and nature.
