Climate love

George Kariuki

3 w

GreenBiz

Climate love

Code red for nature means that companies need to step up

Over two-thirds of populations of species have been lost since 1970. WWF is sounding the alarm, calling it a "code red" for the planet and humanity. To support progress, at the end of 2022, the global community formalized targets to conserve at least 30 percent of the world’s land, coastal areas, and oceans and restore 30 percent of terrestrial and marine ecosystems by 2030, along with additional targets, in the agreed Global Biodiversity Framework.
Businesses have a critical interest in meeting these global nature aims. All companies depend on natural resources, whether freshwater, crops, fiber or minerals, for their operations or supply chains. In fact, half of the world’s gross domestic product, or about $44 trillion, relies on nature.
The warming of the climate threatens life on Earth. The IPCC’s latest science assessment released in March made it clear that "our world needs climate action on all fronts — everything, everywhere, all at once." That means every company must step up its climate action as we rapidly approach 1.5 Celsius degrees of warming, the world’s target to prevent the worst effects of climate change.
Climate and nature are interconnected. For example, deforestation and forest degradation are notable and preventable sources of greenhouse gas emissions, responsible for around 15 percent of global emissions. Yet more than climate change, land use change is the largest threat to nature according to the WWF Living Planet Report. This means corporate efforts must extend sustainability beyond climate to address nature, ensuring that both are effectively and urgently addressed.
Corporate standards are encouraging this action. For example, the Science Based Targets initiative (SBTi) requires more than a climate target for businesses in the food, land and agriculture sector. A commitment to no deforestation is also needed.
Businesses have an important role in supporting global nature aims. Only 17 percent of global land has been protected, yet the world agrees that we need 30 percent by 2030. The area that is best suited for protection and restoration, to yield the most benefits for nature and people, needs to be in strategic areas that are socially inclusive and "provide valuable ecosystem services, and they should be well-connected with corridors to improve resilience to climate change and avoid the creation of ecological islands."

Code red for nature means that companies need to step up

Businesses must meet the sustainability aims of the Global Biodiversity Framework, says a GreenBiz expert, who explains what a corporate nature strategy is.

https://www.weforum.org/agenda/2023/04/code-red-for-nature-means-that-companies-need-to-step-up/



While governments will be critical in driving the necessary progress, company efforts are needed in parallel to avoid further nature destruction and biodiversity loss and to contribute to protection, restoration and regeneration. This is why the Global Biodiversity Framework included a target for businesses to monitor, assess and transparently disclose their risks, dependencies and impacts on biodiversity.

Do you agree?

13 more agrees trigger contact with the recipient

  • Tabitha Kimani

    3 w

    There is a need to take care of our planet and stop destroying it.

    2
    • Kevin

      3 w

      Impressive progress

      6
      • Daniel Waweru

        3 w

        Great progress

        7
        • Joseph Githinji

          3 w

          Great steps, warning is part of the process.

          7
          • Hilda Wangui

            3 w

            This is a great progress

            4
            • Evangeline Wanjiru

              3 w

              Great progress on raising the red flags on companies deviating from the set rules.

              16
              • ance Star

                3 w

                That's amazing

                17
                Welcome, let's solve the climate crisis together
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