Nature's Decline: A Threat to Business Survival
The world's businesses are on a collision course with nature, and the consequences could be dire. A recent report from the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) highlights the critical need for companies to protect and restore the natural world, or risk extinction. This isn't just a threat to the planet's biodiversity; it's a potential existential threat to businesses themselves.
The report, backed by contributions from leading scientists and endorsed by 150 governments, reveals a startling truth: every business, regardless of its industry, relies on the free services nature provides, from clean water to fertile soils. Yet, the report also exposes a disturbing paradox. While nature's decline poses a significant threat to businesses, many companies are actively contributing to this very problem.
"Businesses can either be leaders in conservation or ultimately risk extinction, both for species in nature and potentially for themselves," warns Matt Jones, a co-author of the report and a scientist at the UN World Conservation Monitoring Centre in Cambridge. This stark choice underscores the urgency of the situation.
The report identifies several key drivers of nature's decline, including:
Damaging Subsidies: Large subsidies that harm biodiversity, often fueled by lobbying from businesses and trade associations, perpetuate harmful practices.
Lack of Action: Confusion and a lack of meaningful action on how businesses measure their impacts and reliance on nature hinder progress.
The report emphasizes that addressing these issues is not a distant environmental concern but a core challenge for every boardroom. Yet, alarmingly, less than 1% of publicly reporting companies mention their impacts on biodiversity in their reports.
The good news is that there are examples of successful collaboration between businesses and nature. Steart Marshes in Somerset is one such success story. Here, farmers and conservationists are working together to manage land in a way that supports both wildlife and agriculture. By grazing cattle across the marshes, they create healthy habitats for birds, insects, and plants, while also producing high-quality beef.
This approach demonstrates the potential for businesses to benefit from nature conservation. Steart Marshes also showcases the positive impact on local communities. Newly engineered flood banks protect nearby villages from rising waters, while the wetlands absorb carbon and reduce pollution.
"It's not a loss of farming, but a change," says Alys Laver from the Wildfowl and Wetlands Trust. "These flood banks are an engineering marvel, providing flood protection for local villages, and we're getting a product that farmers can utilize."
The report serves as a wake-up call, urging businesses to take responsibility for their environmental impact. By embracing sustainable practices and working collaboratively with conservation efforts, companies can not only protect nature but also secure their own long-term survival. The time for action is now, before the consequences of inaction become irreversible.
