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ESG advisory in a nutshell: going nature positive
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We've asked our ESG advisors from across our global practice to give their thoughts on a query they're often asked. If this theoretical query resonates, you can find out more about our ESG advisory services and get in touch directly with us below.
What will it take for my organization to become nature positive?
For an organization to become nature positive it requires a clear corporate commitment to halt and reverse nature loss by 2030 and contribute to a full recovery of a resilient biosphere by 2050 (in line with the COP15 Global Biodiversity Framework). This ambitious target would involve going beyond limiting damage to the natural world to enhancing ecosystems and exploring opportunities for new business models based on regeneration, resilience, and circularity.
Guidance is established and emerging to help you:
- assess and measure the material impacts and dependencies you and your supply chain have on nature;
- understand control and influence within your supply chain and stakeholder environment;
- prioritize action and transform corporate systems;
- set targets, disclose publicly and track performance.
This guidance includes the Business for Nature steps to becoming nature positive and the Natural Capital Protocol to help identify, measure and value direct and indirect impacts and dependencies on natural capital. Additionally, the Science Based Targets for Nature Initial Guidance for Business can assist with the development of targets which are measurable, actionable and time bound.
The Taskforce on Nature-related Financial Disclosures (TNFD) enables companies to integrate nature into decision making and disclosure. While the TNFD approach follows the same four pillars of disclosure from the Task Force on Climate-related Financial Disclosures (TCFD): governance, strategy, risk management and metrics and targets, there are notable differences reflecting the greater complexity associated with assessment and integration of biodiversity impacts and opportunities within enterprise risk and reporting frameworks.
These approaches to integrating nature into the day to day thinking of business will also help direct investments towards a nature positive future.
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