3Keel launches Nature & Biodiversity Practice Area
19th April 2023
3Keel’s new practice area builds on our strong background in nature and biodiversity to help clients understand how to take action for impact in this rapidly evolving space.
The world is facing rapid biodiversity and habitat loss, caused by factors ranging from land use change and overexploitation, to the impacts of climate change and agricultural intensification. Companies are increasingly taking note of the nature-related risks to business that are accumulating due to continued ecosystem degradation. It’s estimated that the decline in nature is already costing the global economy more than $5 trillion a year.
3Keel has a strong track record on nature, including our influential work around deforestation and conversion free supply chains, landscape level nature recovery, and on-farm biodiversity. Now we are launching our Nature & Biodiversity Practice Area to help organisations to develop holistic and impactful nature strategies.
The COP15 Global Biodiversity Framework adopted by 196 countries in 2022 requires that all large business and financial institutions assess their nature-related risks and impacts by 2030 at the latest. But currently fewer than 5% of companies have carried out this sort of assessment, and even fewer have set targets.
Our team helps businesses at all stages in their nature journey: from first steps in understanding impacts, dependencies and opportunities across the supply chain, to strategic prioritisation of impactful interventions. The need to measure a business’s impacts and dependencies on biodiversity has resulted in an influx of guidelines and frameworks, which we can help businesses navigate.
Our Nature and Biodiversity practice area expands the range of reporting and target setting frameworks which 3Keel supports clients on, and has significant overlap with our other practice areas. We are closely following the development of Science Based Targets for Nature (SBTN), and are a member of the corporate engagement and referral programmes. SBTN has been developed closely with the Science Based Targets initiative (SBTi) and the Accountability Framework Initiative (AFi), both of which 3Keel work closely within through our Climate Change and Sustainable Commodities practice areas. We are also members of the Task Force on Nature-related Financial Disclosures (TNFD) Forum.
In addition to support with more formal frameworks, 3Keel continues to support clients on more bespoke nature related projects, such as corporate benchmarking, corporate strategy and nature positive journeys.
“Urgent action is needed to address the climate and ecological crises. We use our knowledge and skills to accelerate systems change and business transformation towards a world in which nature, people and enterprises thrive”
Julian Cottee, Senior Consultant, 3Keel