Connecting Business with Nature
Business and nature are deeply interconnected, both depending and impacting on each other. According to the World Economic Forum ‘$44 trillion of economic value generation – more than half of the world’s total GDP – is moderately or highly dependent on nature and its services’. But not every business realizes just how much they rely on nature. In fact, what does it mean to be dependent on nature? How does a business actually impact on nature? These are questions Business in the Community Ireland (BITCI) are asking our members to start thinking about, if they are not already doing so.
Being dependent on nature means a business either directly or indirectly relies on the extraction of resources from nature, be that from forests, oceans or the soil. Or the business relies directly or indirectly on a service that nature provides, such as healthy soil, clean water, pollination and a stable climate. Actually, it’s harder to think of a business which doesn’t, in some way, depend on nature than it is to think of a business that does.
Many businesses wonder where to start and where to focus efforts? The answer will vary depending on the sector in which they operate, the product or service the company offers and their business model. It will depend on their location, their footprint, their processes, their suppliers and their customers. For those with large land or water footprints, it will be how they manage that land or water. For those who use large quantities of chemicals, it’s about managing that use. For those who use large amounts of resources, be it water, timber or minerals, how can these be recovered, reused, recycled. One commonality BITCI would encourage is the use of the mitigation hierarchy – avoid nature loss where possible, when not possible, minimize nature loss and finally, restore and regenerate afterwards.
Often when speaking with our members, they’re already doing something to address nature loss but hadn’t appreciated it in that context. It might be by reducing their carbon emissions, implementing water efficiency measures, introducing circularity in their business model, taking plastic out of their packaging, making space for nature on sites or encouraging and supporting their suppliers and customers to take positive action also.
Some examples of companies who are leading is this space can be found in unlikely places, such as construction, utilities, pharmaceuticals, food and beverage manufacturing and include many of our own semi-state companies. A real-world example, here in Ireland, are the companies who are beginning to look at what can be achieved by following Biodiversity Net Gain or Biodiversity Enhancement principles. Essentially this means establishing a baseline before a project, including considerations for nature throughout the development, design and implementation of a project to ultimately ensure that nature is left in a better condition after a project has concluded.
What else is motivating companies to take action on nature? Well, it is a great topic to get employees engaged and involved on. BITCI has seen our member companies get their employees involved in everything from tree planting and pond creation to collecting data to establish a biodiversity baseline on their sites and contribute to citizen science projects and submitting records to the National Biodiversity Data Centre.
Regulation plays a significant role as a motivator also. The recent EU Directives like Corporate Sustainability Reporting Directive and the EU Deforestation Regulation have undoubtedly been a driver of awareness, if not sufficient action as yet. Businesses are looking at their supply chains like never before. They are mapping suppliers and tracing their sourcing in clearer detail. By doing this they are gaining greater understanding of what and where their impacts, risks and opportunities are. The expectation is this will be used to inform strategies, policies, plans and procedures meaning greater action to restore and protect nature.
Technology can play a crucial role in supporting these efforts, from measuring and reporting GHG emissions to real time water metering to track water flow and quantity usage and installing solar panels to using apps that help identify plant and bird species in specific locations. But it doesn’t need to be high tech. Taking action can be simple but BITCI recommends adopting a science-based approach. This can mean doing thorough research before beginning a project and making informed decisions. Engaging and collaborating with local bodies and experts and following best practice guidelines, frameworks and tools is also a good start.
In conclusion, the relationship between business and nature is both profound and indispensable. As businesses begin to recognize their dependence on natural resources and ecosystem services, they also become aware of their impact on biodiversity and the environment. By adopting sustainable practices, businesses can mitigate their negative effects and contribute positively to nature. Ultimately, the goal is to leave nature in a better state than before, creating a sustainable future where both businesses and the environment can thrive. As more companies embrace this mindset, the collective impact will be substantial, driving positive change for generations to come.
Written by Éadaoin Boyle Tobin, BITCI Sustainability Adviser.
