Leading the way or lagging behind?
Later this year, world leaders will be adopting a new Post-2020 Global Biodiversity Framework, which will lead to a number of actions, policies and regulations being implemented to achieve a nature-positive world by 2030.
In anticipation of this landmark meeting in Montreal, Canada, chaired by China, this report explores how the largest companies operating in the host continent are currently addressing biodiversity-related issues.
Are companies referencing biodiversity in their corporate literature?
The research found that 70% of the companies reviewed do reference biodiversity on their websites and/or published reports – the majority from sectors with more obvious direct interactions/dependencies with the natural world such as consumer staples, energy and utilities. Yet the nature of these references and the importance placed on biodiversity varied greatly, with only 42% highlighting biodiversity as a material issue, and of these, only 4% acknowledging biodiversity as a priority material issue for their business.
Why is there a lack of priority given to biodiversity?
Read our biodiversity reportAre companies completing biodiversity audits to identify their impacts?
The research found no evidence of any company completing a biodiversity audit for their direct operations or full value chain, despite this being a critical first step in understanding a business’ interactions with the natural world, in order to set appropriate targets and management activities that address the full scope of business impacts.
Why are companies not assessing their biodiversity footprint?
Read our biodiversity reportAre companies setting biodiversity targets to address their impacts?
While a number of environmental targets were referenced with the potential to positively impact biodiversity such as water stewardship, waste management and conservation or restoration initiatives, the research found only 14% of companies highlighting biodiversity as a material issue have implemented or plan to implement specific biodiversity net positive or no net loss targets.
How can we get companies to adopt biodiversity targets?
Read our biodiversity reportAre companies engaged in conservation/restoration activities?
Of those companies highlighting biodiversity as a material issue, the research found 45% are actively carrying out conservation or restoration activities. While this is encouraging, in the absence of baseline biodiversity auditing, companies will be unable to determine the extent of impact to be compensated through such schemes as the final stage of the mitigation hierarchy.
How should companies approach addressing their impacts?
Read our biodiversity reportNature Positive and biodiversity
FTSE100 biodiversity report card
FTSE100 biodiversity report card
Interested to find out how other markets are addressing biodiversity? In the first of our Report Card series, we reviewed the progress of the UK’s largest companies in tackling biodiversity-related issues. Explore our findings below.
Read FTSE100 biodiversity report cardThe Global Biodiversity Framework webinar
The Global Biodiversity Framework webinar
Want to find out more about The Global Biodiversity Framework and the implications for business? Ahead of COP15, we joined a panel of experts to explore what the draft framework entails, how it will be translated on the ground and the role of business in delivering a nature-positive future.
Watch here