Nature: A powerful ally for business

Peter Bakker, President & CEO of the World Business Council for Sustainable Development (WBCSD) discusses what nature can do for business and what business can do for nature.

Rainbow and night sky Photo: Hawai'i Tourism Japan (HTJ)

The world witnessed remarkable momentum around sustainability last year. World leaders embraced the 2030 Sustainable Development Goals (SDGs) followed by the adoption of the historic Paris Agreement. We now have an all-encompassing framework of action to protect our environment and fuel inclusive growth within planetary boundaries. 2016 is the time for all of us - businesses, governments, organizations and citizens - to deliver on this ambitious agenda.

We face major challenges in combating accelerating environmental degradation. . Pollution and the mismanagement of our natural resources have put our ecosystems under severe stress, with broad consequences impacting all other SDGs, whether they are about climate, health or well-being. Taking ambitious action to reverse these negative trends is a clear prerequisite for achieving the SDGs, particularly SDG #14, to conserve and sustainably use life below water, and SDG #15, to protect, restore and sustainably manage life on land.

In September this year, thousands of high-level representatives from governments, business, NGOs and other stakeholder groups, will gather at the IUCN World Conservation Congress, which will define priorities for the conservation community and governments in the next four years. This is a key moment for business to step up as a key solution provider and engage in partnerships to reach scale. We need leadership, collaboration and concrete action to move SDG implementation forward and accelerate the transition to a sustainable world.

Through its cutting-edge know-how and technological solutions, business can help solve these environmental challenges. All companies depend on nature. The services provided by nature - such as freshwater, productive soil and clean air - are fundamental to business activity, yet they are in constant decline. The negative socio-economic impacts of this deterioration affects companies’ bottom line and jeopardizes operations. There is an urgency for business to better understand the value of nature’s services and to adopt informed strategies that take into account impacts and dependencies on nature.

Nature is a powerful ally for business.

Companies have a lot to gain from sustainable growth strategies. By addressing environmental issues, business can access new markets through innovative products and services, reduce costs by being more resource efficient, and reduce exposure to climate-related risks (such as floods or storms) through nature-based solutions. Business can also benefit from increased stakeholder engagement and minimized exposure to growing legal and reputational risks.

At the same time business must account for its impact on nature, not just inside its factories and own operations, but all across the global supply chains. On behalf of the Natural Capital Coalition, the World Business Council for Sustainable Development (WBCSD) is leading a group of experts to develop the Natural Capital Protocol, which aims to provide a standardized framework to identify, measure and value business impacts and dependencies on natural capital. IUCN is a critical partner in this project.

With the adoption of the SDGs and the Paris Agreement, the international community demonstrated its determination to move towards a clean and inclusive economy. Business contributed to these processes and voiced commitments to support governments in accelerating the transition. In this new development framework, shaped by the SDGs, business opportunities are closely tied to environmental protection and societal progress. 

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