The need for corporate action on nature has never been clearer. New research from GlobeScan reveals nine out of ten experts (91%) from across academia, NGOs, the private sector and policymakers view the state of nature and biodiversity as a catastrophic or alarming issue. 90% of experts also say companies need a public nature strategy backed by the CEO or Board to effectively protect nature and biodiversity.
Research from the World Benchmarking Alliance shows that less than 1% of companies know how much their operations depend on nature. Through a new Nature Strategy Handbook, developed by Business for Nature, a global coalition of 85+ partner organizations and in collaboration with PwC UK, the ‘It’s Now for Nature’ campaign encourages businesses and financial institutions to develop and publish a nature strategy.
The Nature Strategy Handbook
Available in English, 中文, Français, 日本語, Español, Português
The Nature Strategy Handbook will guide organizations through the supportive tools and frameworks available, building on the High-Level Business Actions on Nature and including the Taskforce on Nature-related Financial Disclosure’s (TNFD) final recommendations, guidance from the Science Based Targets Network and new sector-specific guidance which sets out priority actions for companies to take.
Lynne Baber, Head of Sustainability at PwC UK, commented: “The Nature Strategy Handbook provides a common direction for all businesses to begin or continue their journey towards a nature-positive future by setting a nature strategy. It offers a step-by-step guide on how to write a credible nature strategy and where to find the most useful tools and resources. We hope this helps businesses of all sizes and geographies accelerate the transition to a nature-positive, net-zero and equitable future.”
At CBD COP15, governments committed through Target 15 to require all large businesses and financial institutions to assess and disclose their risks, impacts and dependencies on nature – as well as take action. ‘It’s Now for Nature’ aims to help businesses navigate and anticipate upcoming regulation and investor demands.
Sherry Madera, Chief Executive Officer at CDP, said: “The Nature Strategy Handbook will provide critical support and guidance for companies at all stages of their nature-positive journey, with annual disclosure through CDP as a vital step. All companies must recognize the need to understand their relationship to the natural world, the material and systemic risks they face, the opportunities available and the impacts they have on the environment. While disclosure on nature is increasing, it continues to lag far behind climate. The Nature Strategy Handbook is important to raise awareness of the steps needed for companies to begin their journey and take action”.
Business leaders recognize that they cannot sustainably grow their business, or achieve their climate goals, without protecting and restoring nature. The GlobeScan survey finds that 94% of experts believe companies need to take much more integrated approaches to effectively address nature and climate issues, challenging the historically siloed approach. And 94% believe biodiversity loss needs to be addressed with the same urgency and resources as climate change.
More than 1,400 companies with revenues of more than US$ 7 trillion, have called on governments to adopt policies now to reverse nature loss in this decade. The campaign will be used by businesses and policymakers to demonstrate the momentum for global business action on nature until 2030.
The campaign does not assess, approve or validate targets in nature strategies, or the progress companies are making towards those targets, as many organizations, including CDP and the World Benchmarking Alliance, provide – or will provide – independent assessments for this purpose.
Once you have developed your nature strategy following the recommendations in the Handbook, we encourage you to submit it as part of the global ‘It’s Now for Nature’ campaign and join the growing number of businesses who recognize they need to scale and speed up business action on nature.
Joining the campaign demonstrates your company is committed to contributing to a nature-positive world. And by making your strategy accessible, shows you are being open and transparent with a wide range of stakeholders.