The EBN campaign “Nature is the Answer” is definitely gaining traction amongst the core membership but we have a long way to go yet.
According to a recent report by researchers and diplomats at the summit of the Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) in Manchester recently, global businesses are undermining the environment even though they rely on nature for key raw materials and critical services such as pollination and water filtration. This BBC article will tell you more.
“A focus on growth as measured by the gross domestic product” has resulted in significant damage to the natural world, says the study. Nearly 80 scientists and industry experts spent three years working on the report, which is designed to inform investment decisions and national policies.
Nature is in decline worldwide, and levels of so-called natural capital — ecosystems and natural resources — have fallen by nearly 40%, the report says. But because markets don’t adequately price or value biodiversity, businesses don’t experience the cost of the damage and often can’t make money from protecting it, meaning there is little incentive to do so, the authors argue.
It might be too much to ask for a fundamental rethink of global capitalism but at some stage we do have to review our constant pursuit of growth. The planet just doesn’t have the resources available to drive endless growth in a finite world.
As the report states “nongovernmental organisations and scientists have long argued that defending nature and biodiversity is a way for companies to protect themselves from risks like extreme heat and flooding, as well as loss of the plants and wildlife that are relied upon for food and medicine” but too many companies and governments still favour investments that are likely to harm nature rather than help it.
“Too often, at present, what’s good for business is bad for nature, and vice versa,” Stephen Polasky, professor of environmental economics at the University of Minnesota, and co-chair of the report, said in a press conference. “We can’t just say ‘businesses, please be good’ — we actually have to tie this to some kinds of mechanisms so they have incentives to take these actions.”
Our mission at the EBN is to inspire and educate the business community to embrace sustainability – in all its forms – so that we can continue to pursue commercial success, but definitely not at the expense of the planet and resources.