Many businesses are beginning to account for their impacts and dependencies on nature, through approaches like natural capital accounting. Whilst accounting approaches are well developed for some aspects of natural capital, other critical aspects like biodiversity are yet to be fully accounted in business decision-making.
Many business leaders recognize the importance of accounting for biodiversity, but are currently grappling with how to distill and act on information about complex and dynamic natural systems that interact with all levels of their business. They are facing challenges like how to effectively measure, evaluate and act on biodiversity performance from site- to corporate-level.
The field of conservation science has emerged as a discipline to address one of the greatest environmental challenges – the continued loss of biodiversity around the globe. This field of research is incredibly diverse and includes approaches to help protect, conserve and even trade nature. Across this spectrum of conservation practice, conservation scientists have been particularly effective at developing processes and tools that help governments and NGOs effectively measure, evaluate and act on biodiversity performance.
There are many tools from conservation science toolbox, that can help address the challenges that businesses are grappling with relating to measuring, evaluating and acting on biodiversity performance, such as:
The conservation science that can address business challenges already exists, but remains a largely untapped resource in Business and Biodiversity discussions.
This week I will be attending the EU Business and Biodiversity conference, where I will be talking to participants about the potential for conservation science approaches to address Business and Biodiversity challenges. I’ll be helping facilitate the session on ‘how to set the ambition level’ for businesses, where I’ll be sharing some insights from conservation science that can help businesses begin to think critically about their ambition for minimizing impacts on biodiversity and contribute to global efforts to conserve biodiversity.
To find out more about the conservation science toolbox that can help address the challenges that businesses are grappling with relating to measuring, evaluating and acting on biodiversity performance, read my latest KE@ICCS Brief Science note.