Using conservation science to advance corporate biodiversity accountability

Abstract

Biodiversity declines threaten the sustainability of global economies and societies. Acknowledging this, businesses are beginning to make commitments to account for and mitigate their influence on biodiversity and report this in sustainability reports. We assessed the top 100 of the 2016 Fortune 500 Global companies' (the Fortune 100) sustainability reports to gauge the current state of corporate biodiversity accountability. Almost half (49) of the Fortune 100 mentioned biodiversity in reports, and 31 made clear biodiversity commitments, of which only 5 were specific, measureable, and time bound. A variety of biodiversity-related activities were disclosed (e.g., managing impacts, restoring biodiversity, and investing in biodiversity), but only 9 companies provided quantitative indicators to verify the magnitude of their activities (e.g., area of habitat restored). No companies reported quantitative biodiversity outcomes, making it difficult to determine whether business actions were of sufficient magnitude to address impacts and were achieving positive outcomes for nature. Conservation science can advance approaches to corporate biodiversity accountability by helping businesses make science-based biodiversity commitments, develop meaningful indicators, and select more targeted activities to address business impacts. With the biodiversity policy super year of 2020 rapidly approaching, now is the time for conservation scientists to engage with and support businesses in playing a critical role in setting the new agenda for a sustainable future for the planet with biodiversity at its heart.

The evolution of corporate no net loss and net positive impact biodiversity commitments: Understanding appetite and addressing challenges

“…If developed appropriately, they have the potential to change corporate practice, contribute to reaching national and international biodiversity targets, and support positive outcomes for biodiversity (Aima et al, ; Forum for the Future, ; Rainey et al, ). Our analysis aligns with other research showing that businesses are taking notice of, and making public commitments for biodiversity (Addison, Bull, & Milner‐Gulland, ; Adler et al, ; Boiral, ). However, this uptake remains confined to a very small set of businesses, and very limited even in relation to other corporate environmental commitments.…”

Biodiversity means business: Reframing global biodiversity goals for the private sector

“…For step a) higher quality, more transparent biodiversity reporting, preferably within existing frameworks, is vital (Addison et al., ; Jones & Solomon, ; Smith, Paavola, & Holmes, ). Interpreting business action is problematic across environmental, social and governance (ESG) reporting, but particularly so for biodiversity when compared to other sustainability issues such as carbon or water (Boiral & Heras‐Saizarbitoria, ; Jones & Solomon, ; Vörösmarty et al., ).…”

“…For steps (b) and (c), sound science‐based approaches to setting quantifiable targets, developing metrics, and undertaking adaptive management can help guide business action and evaluate progress (Addison et al., ; Bull, Gordon, Law, Suttle, & Milner‐Gulland, ; de Silva et al., ). Businesses need consistent ways to measure their progress in meeting targets, and work is underway within various sectors (e.g., finance, extractives, and fashion) to develop standardized metrics to support businesses in biodiversity measurement (Addison et al., ; Addison, Carbone, & McCormick, ). Some sectors will need to measure, report, and mitigate more than others but all businesses should be held accountable.…”

“…The degree of exposure may vary by sector, but all businesses are affected by biodiversity loss and all can do more to tackle it (Addison, Bull, & Milner‐Gulland, ). Some recognize the risks associated with biodiversity loss, investing money and resources to tackle their interdependencies with biodiversity (de Silva, Regan, Pollard, & Addison, ).…”

Connecting business with the agricultural landscape: business strategies for sustainable rural development

“…Cross-disciplinary approaches might lead to better understanding of the interactivity between farmers, food supply businesses, and future landscapes. However, landscape sustainability science has yet to devote much critical attention to the role of business in promoting sustainability (Wu, 2013), and business has yet to resolve critical landscape relationships for increased sustainability (Addison, Bull, & Milner-Gulland, 2018;Nelson & Phillips, 2018;Westman et al, 2018). Ecological research that has addressed business has often focused upon relationships between trade, land use, and environmental consequences (Henle et al, 2008) at regional to local spatial scales.…”