The climate and nature crises are inextricably linked; neither can be solved in isolation.
However, while genuine action to tackle climate change is regarded as a high priority for the public and private sectors, action to halt and reverse the loss of nature and biodiversity has lagged further behind. This presents a significant risk for our economies and society, not least because nature is the basis of humanity’s life support system, but also because it is estimated that more than half the world’s total GDP is moderately or highly dependent on nature and its services.
Businesses impact and depend on nature either directly or through their supply chains, and those businesses that are highly reliant on nature, such as the agri-food sector, are considered most at risk from the consequences of nature degradation. If we continue to destroy nature and lose biodiversity at the current rate, we will not meet our targets of net zero by 2050, and our collective exposure to ecological and economic tipping points will increase dramatically.
Transitioning to a nature positive economy in Ireland
Ireland has unique landscapes and seascapes that can rival some of the most dramatic and striking anywhere in the world. It is also home to many important and rare species of flora and fauna of European and global importance. However, it is a sobering fact that many species in Ireland are in significant decline and as a nation it is one of the most nature-depleted countries in the world.
However, there are positive signals that nature is moving rapidly up the agenda. Ireland held the world’s first citizens' assembly on biodiversity loss in 2022-23, has signed up to the Global Biodiversity Framework, and released an ambitious 4th Biodiversity Action Plan in 2024. The EU Nature Restoration Law has also finally been approved and will require ambitious nature restoration targets for Ireland.
For businesses, the EU Corporate Sustainability Reporting Directive (CSRD) and EU Deforestation Regulation (EUDR) are increasing expectations around disclosing and reporting on corporate impacts and dependencies on nature and biodiversity. Additionally, financial services are being challenged to innovate and find solutions to drive the finance needed into the protection and restoration of the natural world.
The pace of change underway and the pressures and opportunities facing the public and private sectors in Ireland and globally are exciting, but they also present a range of challenges.
How KPMG can help
The Nature and Land Use Unit within KPMG's Sustainable Futures team supports a wide range of clients across the public and private sectors. We have conducted impact and dependency assessments, developed nature strategies, and helped navigate our clients through the complex regulatory landscape, including EU CSRD, TNFD disclosures, and Science-Based Targets for Nature.
Notably, our expert team has supported the delivery of Ireland’s 4th National Biodiversity Action Plan (NBAP) and, more recently, in collaboration with The International Sustainable Finance Centre of Excellence (ISFCOE), the landmark Nature of Finance, which was the first independent assessment of nature-related risks and opportunities for Ireland’s financial sector.
Why KPMG?
The Nature and Land Use team offer comprehensive services to clients, encompassing strategic consulting and ecological sustainability solutions.
Leveraging our expertise in biodiversity, climate risk and sustainable finance, our services include land use planning, nature & biodiversity impact/dependency risk assessments and regulatory compliance guidance enabling our clients to build a pathway to reduce and mitigate nature-related risks and moving towards being nature positive.
To learn more about how KPMG’s Nature and Land Use team can empower your business, contact us today. We'd be delighted to hear from you.
