Embracing Nature: Why Businesses Must Invest in a Nature Strategy Alongside Sustainability Efforts
As someone who has worked in energy and sustainability for 30 years, I tend, more often than not, to think about corporate sustainability through the lens of actions and the corresponding carbon savings, ESG strategies, net zero trajectories and the RoI of sustainable investments. But, what brought me to a career in sustainability, was a passion for the natural world; biodiversity, ecology, natural history and clean air, having spent my youth in Scouting and playing outdoor team sports, loving the outdoor world and with an insatiable appetite for David Attenborough productions. It has always been my desire to live my life treading as lightly on the earth as possible and living well within the natural regenerative capacity of our planet.
I suspect the same is true of us all in one way or another. Inherently, I believe people are good and will make the right choices for our natural world over the wrong ones more often than not, particularly if personal gain or profit are not involved.
I read a staggering fact during the pandemic, that man’s impact on the natural world, according to a UN panel of experts, is causing 1 million animal and plant species to face extinction. This, if true, will affect the ecosystems on which human life depends, threatening our food, our water and our health. With all life systems being connected, our efforts in regenerating the natural world will reduce the risks for humankind.
Over the past 150 years land use has changed dramatically and this has had a devastating impact on biodiversity and ecology. Global population has more than quadrupled in this same period causing a huge increase in the need for natural resources. Astonishingly, today around 75% of the useable land, not covered in ice, is used for the livelihood and feeding of just one species – humankind. The regenerative capacity of our planet is rapidly declining.
According to the UN, the UK is one of the most nature-depleted countries on earth. Scientists and environmentalists across the UK are calling for more action on nature to halt our climate and biodiversity crisis as we are now getting close to some critical tipping points. The proposed Climate and Nature Bill is gaining significant support from both the public and leading organisations with at least 1,500 recognised brands lending their support to the proposed bill.
Despite the above though, within most corporate sustainability strategies, one crucial aspect often remains overlooked: nature.
We are starting to see the development of a few standards and reporting requirements for businesses, such as the Nature related Financial Disclosures (TNFD) and the Science Based Targets Network (SBTi) pilot scheme on nature reporting. However, these are simply not enough and as such, organisations are struggling to find direction. Considering this, we are starting to see a growing voluntary market for corporate nature related investment, and we see some great examples of this in tree planting initiatives, ecology improvement initiatives and even in animal welfare projects.
Last summer I was invited to take part in 2 beekeeping days. These are a great initial way for organisations to invest in nature based activities and engage their teams in nature, as well as show their external customers and investors that this is an area that they care about.
I have also been lucky enough to take part in a number of our client’s tree-planting initiatives over the years. These days are always both social and meaningful and bring teams together to work for and be in, nature.
With the UK government’s Nature Recovery Network goals now in play and seeking to move from protection to active restoration, business support has never been needed more. Some of the key goals of this initiative are; to protect and effectively manage 30% of England’s land and sea for nature by 2030, to halt species decline by 2030, to restore or create more than 500,000 hectares of wildlife-rich habitat outside protected sites by 2042, to restore 75% of terrestrial and freshwater protected sites to favourable condition by 2042 and to increase tree canopy and woodland cover from 14.5% to 16.5% of total land area in England by 2050.
All of the above will help with our ambitions of achieving Net Zero by 2050, improve air quality nationally and create areas to support the wellbeing of our growing and ageing population.
In the UK, construction businesses are increasingly recognising the concept of Biodiversity Net Gain (BNG) as a critical aspect of sustainable development. Put simplistically, BNG requires developers to ensure that new developments result in a net increase in biodiversity compared to pre-development levels. By incorporating green infrastructure, such as green roofs, green spaces, community gardens and wildlife corridors, into their projects, construction businesses can enhance biodiversity while simultaneously meeting regulatory requirements and improving community well-being.
But outside of specific industries (construction and financial), how can we get more companies interested in investing in the natural world when this still for them, is a largely voluntary market? In short, what is good for nature will be good for business.
By prioritising nature conservation and restoration, businesses can enhance brand reputation, drive innovation, reduce costs, access capital and markets, ensure regulatory compliance, and manage risks effectively.
The pressure from employees and younger generations cannot be ignored. Today's workforce, especially millennials and Gen Z, are increasingly prioritising environmental and social responsibility in their career choices. Companies that demonstrate a commitment to sustainability, including investment in nature conservation, are more likely to attract and retain top talent.
Younger generations also wield significant influence as consumers, driving demand for sustainable products and services. Businesses that fail to adapt to these shifting consumer preferences risk losing market share and relevance in the long run.
By embracing nature as a core component of their corporate strategy, UK companies will contribute to the national efforts of the Nature Recovery Network in preserving and restoring our country's biodiversity, paving the way for a more resilient, healthy and biodiversity rich future for all.
If you want to add your support to the proposed Climate and Nature Bill, write to your local MPs asking them to back the Bill and support the campaign at www.zerohour.uk.
Scott Armstrong
Co Founder and Director