Businesses Face Extinction Unless They Protect Nature, Major Report Warns
A stark warning has been issued to businesses worldwide: they could face extinction if they fail to protect and restore the natural world. A significant new report from the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (Ipbes) highlights the urgent need for companies to transition from harmful practices to those that actively support nature. This call to action comes against the backdrop of a concerning decline in biodiversity in the UK.
Understanding the Risks of Ignoring Nature
– Scientists emphasize that all businesses, regardless of their sector, depend on nature for essential services—ranging from clean water to fertile soils.
– Co-author Matt Jones from the UN World Conservation Monitoring Centre in Cambridge noted that businesses could significantly endanger not only local species but potentially their own existence.
– The report has garnered insights from leading scientists and has been validated by 150 governments.
The Economic Threat of Biodiversity Loss
– According to co-chair Prof. Stephen Polasky, declining biodiversity represents one of the most severe threats to business operations. Ironically, it often seems more advantageous for companies to exploit natural resources rather than protect them.
– Leigh Morris, International Director of The Wildlife Trusts, insists on the necessity for “clear metrics and toolkits” to help businesses understand and mitigate their impact on biodiversity.
Shifting from Nice-to-Do to Must-Do
Engagement with nature protection is increasingly seen as essential for UK businesses. A prime example of effective collaboration between companies and environmental stewardship can be seen at Steart Marshes in Somerset.
– Farmers and conservationists are employing practices that benefit both wildlife and agriculture. Cattle grazed on the marshes maintain healthy habitats for various species.
– Local farmer Andy Darch explained that this method fosters biodiversity while also producing high-quality beef, as cattle contribute to the land’s ecological balance by consuming diverse plant life.
Community Benefits of Restoring Nature
Steart Marshes not only serves as a sanctuary for wildlife but also supports local communities. The newly constructed flood banks provide vital protection against rising waters, while the wetlands play a key role in carbon absorption and pollution reduction.
– Alys Laver from the Wildfowl and Wetlands Trust emphasizes that these flood banks are not merely protective structures, but engineering feats that contribute significantly to agricultural practices. “We’re providing flood protection for local villages while also offering farmers resources that can be utilized,” she states.
Incentives Driving Nature’s Decline
The report identifies several everyday incentives contributing to the deterioration of natural ecosystems:
– Large subsidies, often backed by lobbying from businesses, which harm rather than heal biodiversity.
– A pervasive lack of clarity and inadequate action on assessing business impacts on nature.
Effective stewardship of natural resources is not just an environmental issue; it’s a critical challenge for corporate governance that demands immediate attention. Alarmingly, less than 1% of publicly reporting companies address biodiversity in their disclosures.
As businesses reevaluate their relationship with nature, the message is clear: protecting and restoring the environment is not merely a corporate responsibility, but a necessary strategy for survival. Without significant changes, companies risk not only the extinction of countless species but their own future as well.