The threat to biodiversity is not just a threat to the planet, animals, plants and humankind. Companies, too, may experience major challenges if they do not integrate biodiversity considerations into their approach.
In fact, this is precisely where many companies are seriously lagging, according to a new report from Danske Bank and Danica Pension, which has mapped the work – or lack of same – of 99 Nordic companies on biodiversity.
Among other findings, the report shows that 71% of surveyed companies are exposed to biodiversity risk, while less than 15% of companies have set a target for reducing their negative impact on nature or defined how they will contribute to restoring biodiversity.
“The report makes abundantly clear that many companies overlook biodiversity and its associated risks and opportunities. Companies that use nature’s resources in one way or another must set objectives for how they can integrate biodiversity into their approach. Not only will this contribute to futureproofing the company, it will, not least, help to reduce biodiversity loss,” says Mads Steinmüller, Head of Active Ownership at Danske Bank and Danica Pension, who adds:
“Biodiversity in crisis and the transition to an economy that preserves and restores biodiversity can affect a company’s value, business model and growth potential. We have only one Mother Nature, and for many companies she is their most important supplier, so we all have a vital role to play in terms of preserving biodiversity and ensuring that both companies and investors contribute to increasing biodiversity,” he says.