With wild weather hitting the eastern seaboard this week, things are really (literally) getting shaken up. Things are definitely getting shaken up in the business world too, where we can see the green front is gaining momentum.
One thing that we’ve been hearing is shaking the grapevine is all about how investors are starting to pay more attention to one thing as the next frontier for responsible corporations: and that’s nature.
Consider this: more than half of global economic output is dependent on biodiversity and ecosystem services.
While boards understandably are focused on climate, organisations should be thinking about their impacts on the natural system as a whole, not just their CO2 emissions.
You just have to look at the new Taskforce for Nature-related Disclosures stakeholder consultation initiatives announced at the World Economic Forum in Switzerland last week.
This includes a new consultation group to help Australia and New Zealand to expand outreach and engagement, convened by RIAA.
These kinds of initiatives show that nature-related activities are attracting real attention at the highest levels and gaining momentum.
Of course, the preservation of nature is linked to broader ESG in a number of ways.
There is a very close relationship between nature and climate change – as climate change is one of the main ways humans are damaging the environment – so curbing emissions will be critical to our ability to reduce biodiversity loss. And nature-based solutions are a key part of our response to this threat.
There is also a link with poverty alleviation, as those in low income countries are typically more reliant on natural resources.
Also, a growing population places more demands on nature, so improving women’s access to education and financial empowerment will not only reduce our impact on the natural system, but also help to further the United Nations’ Sustainable Development Goals.
Final recommendations for the TNFD framework are set to come out in September 2023, so it’s time for businesses to start considering the ways in which their business could be impacting on the natural system.
Corporates who are already considering these issues will be best placed to comply with the new framework that will be introduced next year. And they will also be taking their responsibilities as businesses seriously.
Bye for now. Get in touch if you have any interesting business news for us to report, or if you’re an existing Greenlister and want to share what you’re up to: rose@thegreenlist.com.au
– Rose Mary Petrass, your Green List curator
