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Weekly Short
28 June, 2024
London Climate Action Week was this week. A stand-out discussion was Howden’s “Nature Risk is Business Risk” panel, highlighting the critical relationship between businesses and nature.
Archie Struthers, panellist and CEO of Nattergal, emphasised that all businesses both depend on nature and impact upon it. Archie advocated for prioritizing nature recovery in climate solutions, through improved water management, carbon sequestration, and air quality. Nattergal’s impressive rewilding projects maximise nature’s capacity to combat the climate crisis, alongside social benefits such as reducing flood risks through rejuvenated soils.
The panel also underscored that businesses must understand how their activities affect nature. That’s where structured approaches in the form of policy and reporting frameworks help. TNFD’s LEAP framework provides all businesses with tools to assess and identify nature-related issues, and help them understand the impacts, dependencies, risks and opportunities associated with nature
Awareness can lead to more informed decision-making and proactive measures to minimise negative impacts while maximising positive contributions to environmental sustainability – especially when regulation is ramping up. For example, the new EU Restoration Law mandates member states to restore 20% of land and sea areas by 2030, aiming to mitigate climate change, help the EU to fulfil its international environmental commitments, and to restore European nature.
The more businesses understand their interactions with nature, the better equipped they are to implement strategies that promote biodiversity and mitigate risks. Businesses must invest in and prioritise nature, tackle nature and carbon in tandem, and by doing so, accelerate change and nature recovery
By Bertie Batema