Reimagining the Role of Business in Protecting Biodiversity

By Rajat Panwar, Theresa Lieb, Sarah Federman & Matthew Betts
Stanford Social Innovation Review
February 26, 2024
Category: Forestry
Region: United States, US West

The landscape of corporate environmental responsibility is evolving beyond a focus on climate issues to more holistically account for nature-related risks, such as biodiversity loss. Recognizing the threat to global economies and ecosystems posed by biodiversity loss, prominent global corporations are venturing beyond the atmosphere and into the biosphere. As one executive said, “climate action is non-negotiable, but the race to outpace biodiversity loss is even more crucial. Our planet, and our profits, hinge on it.” Corporations are starting to make pledges to fight biodiversity and nature loss, but the path forward remains murky. Metrics are hazy, and linking individual actions to broader jurisdictional biodiversity goals and commitments remains a challenge. Clearing this fog is crucial for companies to confidently take decisive steps and communicate their impact. Enter the Taskforce on Nature-Related Financial Disclosures (TNFD). In January 2024, over 300 organizations committed to nature-related disclosures based on TNFD’s recommendations.

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