BIODIVERSITY HAS ROBUST SUPPLY CHAIN CONNECT

As companies face increasing scrutiny over their environmental impact, biodiversity management and conservation have emerged as vital components of their sustainability strategies

Recognising the significance of biodiversity for business sustainability is the first step towards definitive change. The conservation of biological diversity is a subject of critical importance. But action on this front has been slow.

The latest report from the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services points to a substantial decline of the ecosystem and associated diversity over the years, primarily resulting from a myopic predilection for short-term economic gains. Annual global risk reports published by the World Economic Forum repeatedly highlighted “biodiversity loss and ecosystem collapse” as one of the top 10 risks, particularly in the longer run.

BIODIVERSITY AND BUSINESSES 

Biodiversity plays a vital role in shaping the business landscape. It provides essential ecosystem services, such as pollination, soil fertility, water purification and climate regulation that benefit agriculture, forestry, pharmaceuticals, food and beverage, meat and poultry and other sectors. Companies must assess and manage their impacts on biodiversity to ensure sustainable use of natural resources across their value chain. By conserving and restoring biodiversity, they eventually contribute to building climate resilience within their supply chains and reduce their vulnerability to climate-related disruptions.

By aligning their products and services to environmentally conscious consumer preferences, businesses gain a competitive edge and carve out new avenues for economic growth and innovation. By proactively addressing biodiversity-related risks, they avoid regulatory non-compliance and potential reputational damage, safeguarding their brand value and financial stability.