A recent study by The Dow Chemical Company and The Nature Conservancy, an IUCN Member, demonstrates that investing in natural infrastructure is a cost-effective way to protect business assets from extreme weather events like hurricanes and floods.
Photo: WBCSDOur climate is changing. In some parts of the world, the changes are so severe that life can’t continue as usual. Last December in Paris, the world made a deal to manage, concretely mitigate and adapt to changing climate and weather patterns and do business more sustainably. Governments called on all stakeholders - but particularly business - to take immediate and meaningful action.
Healthy ecosystems play an important role in climate mitigation and adaptation. Conservationists, scientists and others are praising nature-based solutions as cost-effective options to achieving a range of objectives including carbon sequestration, enhanced climate resilience, job creation and economic growth.
But how do we convince business to invest in nature? One way is by showing how it can protect business assets from climate-related risks without jeopardizing overall profitability and jobs.
A recent study by The Dow Chemical Company and The Nature Conservancy does just that.
The study demonstrates that investing in natural infrastructure, such as marshes, mangroves, coral and oyster reefs, alongside more conventional infrastructure, such as dykes and levees, is a cost-effective way to protect business assets from extreme weather events like hurricanes and floods.
There’s more: the benefits of natural infrastructure go beyond asset protection; they generate broader environmental and social co-benefits. An assessment of the benefits provided by marshes in Freeport, Texas (where Dow has operations) demonstrated that they provided at least $117 million USD in coastal protection, carbon sequestration and recreational value in 2010 while supporting 12 fisheries and providing habitat for over 300 wildlife species.
Many business benefits of investing in natural infrastructure are not widely known. To raise awareness about these benefits and increase investments in natural infrastructure solutions, WBCSD and its member companies are driving concerted action through the Natural Infrastructure for Business platform (NI4Biz). This open-source online platform makes the business case for investing in natural infrastructure, offers cost-benefit analysis and decision-making tools and resources, and showcases the efforts of companies like The Dow Chemical Company, Royal Dutch Shell, LafargeHolcim and Veolia who are leveraging natural infrastructure for business purposes that range from flood protection to land restoration to water and food security.
“By investing in natural infrastructure, business can take concrete steps to deliver against the Sustainable Development Goals and the CBD Aichi Biodiversity Targets. At the WBCSD, we are proud to be pioneering this important initiative key to conserving and responsibly using nature globally,” said Peter Bakker, President and CEO of WBCSD. “It is in our hands to help nature help us continue doing business and living the lives we enjoy.”
The role of business in conservation is one on many important issues to be addressed at IUCN World Conservation Congress 2016 in Honolulu, Hawai’i.
Visit the Natural Infrastructure for Business platform or contact NI4BIZ@wbcsd.org for more information on the business benefits of investing in natural infrastructure.
