Nature, our life support system, is in a critical condition. The conversion of natural habitats, pollution of rivers and oceans, invasive species, wildfires, and droughts are pushing nature to its limits. On average, global wildlife populations have dropped by 69% since 1970.
The impacts for society and business are clear. Unless we protect the ecosystem services we depend on, we will not be able to achieve net zero emissions; the resilience of our food systems will be weakened; and necessities we take for granted – like clean air and fresh water – will be increasingly threatened. According to the World Economic Forum, over half of the world’s GDP is under threat from nature loss.
Taking action on nature
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 can help 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.
Identifying biodiversity risk hotspots
Using data on your business activities and supply chain, 3Keel can help you to assess where impacts and dependencies occur across the value chain, providing an initial nature ‘footprint’. This can cover issues including ecosystem integrity, deforestation and land conversion risk, freshwater resources and water security, ocean health, pollution, and resource exploitation. Following this assessment, prioritisation based on importance, salience and ability to act then provides an initial set of issues and geographies as a focus for action.
Nature strategy and roadmaps
Companies are setting nature targets to increase business resilience and respond to an evolving policy environment, including the recently adopted global target to halt and reverse nature loss by 2030. Effective corporate nature strategy follows the mitigation hierarchy, identifying the most salient issues first and putting in place practical routes to avoid and minimise damage to natural systems, before moving towards restoration and regeneration. Primary attention should be paid to operations where companies have direct control, but in many cases (for example retailers and manufacturers), the value chain will be of even greater importance, requiring collaborative approaches with suppliers.
The Nature Positive journey
Business will play a critical role in the restoration of the natural world on which we all depend. We can support you to develop tailored strategies, engagement plans and opportunities for impact. As formal frameworks for business such as Science-Based Targets for Nature (SBTN) and the Taskforce for Nature-related Financial Disclosures (TNFD) become increasingly adopted, there will be growing scrutiny of companies’ performance on nature. Corporate claims around biodiversity improvements will need to be backed by hard data, requiring the development of monitoring, reporting and verification infrastructure and systems. With our years of experience in corporate sustainability strategy and practice, 3Keel can help you to plan the steps that you will need to take to be ready for the future.
3Keel is an SBTN Corporate Engagement Program participant, pledging alignment with SBTN’s goals and vision and contributing advice and end-user insights to the development of SBTN methods and tools. We are also members of the TNFD Forum, a global and multi-disciplinary advisory grouping of institutional supporters who share the vision and mission of the TNFD and make themselves available to contribute to the work and mission of the Taskforce.
Want to know more about our Nature and Biodiversity practice area?
Contact Julian Cottee for more information. Or phone our office +44 (0)1865 236500 and speak to one of our colleagues.