The nature of business, as well as nature itself, are deeply intertwined. Businesses both depend on, and impact nature. Given the current status of ecosystem and biodiversity decline and loss, many businesses are on a precarious and unsustainable trajectory.
To build resilience, and to guard against business continuity risks associated with the loss, destruction and unsustainable use of nature - businesses can take action to minimise their impacts on nature, and also to enhance nature. In essence, this is what it means to be nature positive.
Below is an overview of what enhancing nature means in the context of corporate responsibility and why boosting the abundance of natural capital is important for businesses.
As mentioned above, nature positivity is about going beyond managing risks and mitigating impacts on nature - to actually enhancing nature.
Until recently, global corporate action has been focused on mitigating damage to nature, not enhancing nature. This welcomed paradigm shift towards restoring nature so that it can function optimally, regenerate, and be more resilient to system changes has taken root worldwide.
Part of this paradigm shift includes nexus thinking, which recognises the interconnectedness of natural and climate systems. That’s why there’s now a global movement towards using nature based solutions to address the interlinked planetary crises of biodiversity loss, climate change, and the pollution of Earth’s water and oceans.
This momentum to achieve nature positivity by 2030, has been globally cemented through the establishment of the global goals for nature, which were adopted as part of the Kunming-Montreal Global Biodiversity Framework (GBF) at COP 15.
There is now mounting pressure globally for all sectors to scale action to enhance nature, with businesses playing a significant role.
Corporate action to enhance nature is not only about risk minimization, or about doing what’s ethical and good for the health of the planet and society at large. Enhancing nature also makes good business sense.
From a business perspective, dependence on nature throughout supply chains and value chains puts the future of business at risk. By minimising these risks (which include supply chain disruptions, increased costs and competition for scarce resources, disruption of business models, etc.) businesses can become resilient and future-proof.
By taking steps to protect and restore nature, businesses are also likely to attract more customers (due to increasing demand for ethical and sustainable products and services), innovate new and competitive products and business models, attract positive media attention and PR, and avoid penalties and fines related to mounting legislative compliance requirements.
Is your business ready to take bold and ambitious steps toward being nature positive?
At JBNotes, our team of experts can assist you in identifying your business dependencies and impacts on nature, as a stepping stone to crafting integrated sustainability strategies. We do this by incorporating science-based targets for nature and identifying nature-based solutions in the journey toward creating a nature positive future.
Businesses can use these journeys as a process for unlocking business opportunities and financial savings, while increasing resilience, safeguarding against business continuity risks, and ensuring legal compliance.
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