People and nature are inherently connected to one another, kindling relationships that can both build and destroy. History has shown how humans and nature interact with each other, with people learning from and responding to nature and biodiversity in order to enhance their way of living and their practices. Nature and biodiversity has continuously provided people with resources, from food to raw materials that we use to build goods. However, with consumption and industrialization accelerating production lines and increasing the demand for goods and services, an imbalance in the relationship between people and nature has led to great repercussions on daily life and the way businesses operate.
We are highly dependent on nature. Its destruction would lead to a shift in business operations due to the lack of resources. Unprotected and damaged ecosystems can leave communities prone to natural disasters. A loss of biodiversity can ruin the quality of an ecosystem. As natural resources are depleting over time and as ecosystems are being destroyed due to exploitation and climate change, businesses can take action and prevent further damage through initiatives and strategies that support nature and biodiversity.
The conservation, protection, and restoration of nature is critical to sustaining value chains and overall business operations. Nature supports vital services and activities and to lose this can lead to financial losses and business disruptions. From irrigation systems to forests, nature is an extension to business, impacting companies both directly and indirectly.
Financial institutions and investors are beginning to recognize the impact and importance nature brings to businesses. The development of the Taskforce on Nature-related Financial Disclosures (TNFD) is one step towards boosting awareness as it initiates a response from companies and organizations to evaluate their impact and take meaningful action for nature. Recognizing the risks and opportunities and acting in response to these can help businesses contribute to building sustainable ecosystems that support sustainable economic growth.
Building a resilient and sustainable business requires having a sustainable relationship with the external environment. There are many activities a business can do to support the global movement in nature conservation and protection. Here are some initiatives to strengthen your sustainability performance while considering the impact a business can have towards the natural environment.
Impact assessments give businesses proper footing before taking bigger steps in their sustainability journey. Through impact assessments, a business can kickstart their journey by reviewing their business practices and operations and how these may affect nature and biodiversity. For example, a business can look into their wastewater systems and how these affect the water quality of nearby streams and waterways. Businesses linked to agriculture and food systems can also assess the quality of soil and food waste management systems. Businesses can also review the amount of natural resources they acquire and the sustainability of their supply chain systems and supplier practices.
To ease certain challenges when conducting an impact assessment, a company can look at pressing matters inherent to their sector and if there are any initiatives currently underway to address these. By getting to know how a company interacts with the environment and the threats and opportunities they may bring upon the natural environment, companies can develop actionable strategies that lessen and prevent further damages.
Tied to an impact assessment is a risk management plan that considers the negative impacts a company may cause and the risks, threats, and opportunities that may occur to the company due to climate change and a shifting natural environment. In order to strengthen commitments to nature and biodiversity, businesses need to develop strategies that mitigate risk and contribute positively to the environment, while minimizing financial losses. Assessing and addressing the risks and threats can help businesses be more responsive and resilient to changes in the environment.
The future of business is anchored to circular business models, moving further away from the ‘take-make-waste’ linear models and shifting towards circular value chains that redesign every process towards better product longevity and improved resource and waste management.
Circular economies support nature and biodiversity as it minimizes waste mismanagement, reducing the risk of polluted lands and water and improving the quality of life for all. In addition, a circular economy considers new ways of manufacturing goods by minimizing the use of virgin raw materials, thus safeguarding, preserving, and properly managing natural resources to ensure sustainable ecosystems that span generations.
There are many ways businesses can take part in circular business practices. Redesigning products by reducing the use of nonbiodegradable materials and improving packaging and overall quality can prolong the life-cycle of a product and further prevent it from ending up as waste. Establishing proper waste management systems that allow waste to be recycled or reused are other ways to safeguard the environment. Circular economies drive businesses not just to the path towards zero waste but also towards protecting and sustaining the environment.
An informed team can make informed solutions that generate the biggest positive impact towards the environment. Business leaders must ensure their teams are able to understand goals and commitments set towards sustainability as these can build a personal commitment and motivation to positive contributions and sustainability-driven strategies. Equipping teams with the knowledge and resources that they can utilize to better incorporate nature-based solutions to their strategies empowers teams and eases the transition from passive to active participants for sustainability.
Climate change can impact the natural environment, leading to the destruction and loss of habitats, natural resources, and quality water. Communities and organizations worldwide are taking bigger steps to prevent temperatures from rising to levels that can inflict irreparable damage to the planet and its inhabitants.
Being energy efficient through technology solutions can help reduce emissions. In addition, participating in decarbonization activities such as reforestation programs not only sequesters carbon emissions but also revitalizes local environments.
Local communities and indigenous peoples are important stakeholders when it comes to building strategies for nature and biodiversity as these groups have firsthand experiences on the impact of climate change and nature and biodiversity losses on societies. Their knowledge on the local ecosystems can also span generations, benefiting teams and strategists on how the environment has evolved over time. By involving them in sustainability strategies, a business is able to create solutions that are backed both by science and society while contributing to social and environmental development.
To live sustainably, we must learn how to reroot our relationship with the environment back to mutual respect and support, rather than viewing the living environment as a body that continuously churns out and provides. There are certain limitations in the environment and it cannot keep up with the demand human society has as we continue to innovate and develop. When developing solutions that support nature, it is important to consider certain systemic challenges and restructuring that may occur to ensure a just and equitable transition towards sustainability. Businesses must understand their relationship and connection with the environment in order to create better sustainable practices for the environment while yielding positive economic rewards and reducing future threats that may disrupt the way we do business. By supporting nature and biodiversity, businesses can connect back to nature and build sustainable environments that sustain economies.
At Keslio, we are deeply passionate about sustainability, equipping us with the expertise and extensive network needed to guide clients through their sustainability journey effectively and efficiently. Our expertise is particularly valuable for companies looking to embed sustainability practices into their businesses and investors looking to integrate ESG and impact into investment portfolios. To learn more about how Keslio can assist your organization on its sustainability journey, please don't hesitate to get in touch with us.
