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.
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Denne historien er fra July 2023-utgaven av Outlook Business.
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'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
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Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.
