Business & Biodiversity Whitepaper

Biodiversity loss is taking place at an alarming rate and is, according to the World Economic Forum, number four on the global threat ranking list, after climate change and extreme weather phenomena. This assessment is not surprising, since around 50% of global GDP is dependent on nature and its ecosystems (WEF, 2023). As rising temperatures is affecting us all, so is biodiversity loss.

Companies are also beginning to understand that their activities do not only impact on the environment, but that they are also dependent on a variety of ecosystem services such as raw material supply, crop pollination, water filtration and erosion control to name a few. Biodiversity also contributes directly to local livelihoods, making it essential for e.g. achieving poverty reduction (GRI, 2016). Thus, the loss of biodiversity is a direct threat to business as healthy and resilient ecosystems are a precondition for economic and social development.

Governments, financial institutes and other stakeholders are increasing the pressure on companies to account for their impacts on biodiversity and the associated risks. Companies dependent on ecosystem services (most) become more vulnerable as nature deteriorates. It is time for business to act, and in this paper, we will get into what the first steps should be.