At a critical point: The good business of protecting biodiversity

A new report by an organization that represents hundreds of businesses worldwide -- with combined revenues of over $7 trillion – is bringing new attention to how innovative approaches for sustainability and environmental protection are gaining international momentum and public acceptance.

The World Business Council for Sustainable Development (WBCSD) report Biodiversity and ecosystem services: scaling up business solutions says the global business community is at a critical point where corporations need to think and act differently.

James Griffiths, WBCSD’s managing director of ecosystems, forest solutions and water, believes a growing number of global companies are starting to appreciate their dependency on continued biodiversity and sustainable ecosystems – as well as the risks that come from the loss of biodiversity and the degradation of ecosystems.

“It is no longer just the extractive sector (mining, oil & gas) or ecosystem-based sectors (forestry or agriculture) that need to deal with biodiversity and ecosystem risks,” he wrote in an email to GreenBiz. “And it is not just direct operation impacts that are in focus – understanding is starting to include the indirect impacts via supply chains – which can cumulative and significant.”

Griffiths said the report shows that, for progressive companies, the overall mindset has changed. The new challenges “are to find cost effective ways of bringing their entire sector forward – sector strategies, product standards and public policy changes play key roles here.”

Image of Growing Economy and Industry by Lightspring via Shutterstock.

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