Business and biodiversity: achieving the 2050 vision for biodiversity conservation through transformative business practices

Due to their massive resources and global reach, businesses could contribute immensely to global efforts to reduce biodiversity loss. Within the last few years, businesses have indeed shown interest in biodiversity conservation. However, their current efforts are too limited and perfunctory to be co...

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Bibliographic Details
Published in:Biodiversity and conservation 2023-09, Vol.32 (11), p.3607-3613
Main Author: Panwar, Rajat
Format: Article
Language:English
Subjects:
Biodiversity
Biodiversity loss
Biological diversity conservation
Biomedical and Life Sciences
Climate Change/Climate Change Impacts
Commentary
Conservation
Conservation Biology/Ecology
Corporate sustainability
Ecology
Laws, regulations and rules
Life Sciences
Supply chains
Sustainability
Sustainable development
Wildlife conservation
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Summary:Due to their massive resources and global reach, businesses could contribute immensely to global efforts to reduce biodiversity loss. Within the last few years, businesses have indeed shown interest in biodiversity conservation. However, their current efforts are too limited and perfunctory to be consequential for achieving the 2050 vision for biodiversity . This article proposes the following five distinct yet mutually reinforcing strategies for bringing about transformative change in how businesses can contribute substantively to biodiversity conservation: (i) making biodiversity protection every business’s business—i.e., incentivizing micro, small, and medium enterprises alongside large corporations to adopt biodiversity conservation measures, (ii) giving biodiversity a central stage in the corporate sustainability discourse—i.e., correcting the carbon tunnel vision of corporate sustainability, (iii) holding companies accountable for biodiversity impacts across their entire supply-chains, (iv) developing biodiversity-friendly organizational cultures so that employees become biodiversity champions, and (v) creating third-party certifications to benchmark and evaluate biodiversity-friendly business practices. Effective implementation of these five strategies will require voluntary commitment from companies and enabling regulations.
ISSN:0960-3115
1572-9710
DOI:10.1007/s10531-023-02575-1