Business for Nature: The importance of nature across the supply chain
31st March 2020
SAI Platform is proud of its recent commitment as partner to the Business for Nature coalition. As a global initiative Business for Nature was set up to unify the business voice in calling for governments to reverse nature loss. SAI Platform now has a shared voice along with 45 other leading partner members, as we develop a collaborative approach to scale up business action for nature.
There are 5 key areas that Business for Nature target:
1. ADOPT TARGETS TO REVERSE NATURE LOSS: PROVIDE DIRECTION AND AMBITION
Businesses need long-term certainty to invest in changing business models. Concrete evidence-based targets informed by science are needed to provide clear direction and ambition for business action to reverse nature loss by 2030. These targets should be relevant and translatable from the global to the local level.
2. ALIGN, INTEGRATE AND ENFORCE POLICIES FOR NATURE, PEOPLE AND CLIMATE: ENSURE COHERENCE
Climate change, nature loss and social inequality need to be solved together to achieve a just transition. Policy coherence and efficient implementation and enforcement at global, national and local levels is needed to create a level playing field that supports business action.
3. VALUE AND EMBED NATURE IN DECISION MAKING AND DISCLOSURE: GO BEYOND SHORT-TERM PROFIT AND GDP
The value of nature for people and the economy needs to be visible and considered in decision making. Governments, companies and financial organizations would take better decisions if they used information ‘beyond short-term profit and GDP’ that includes impacts and dependencies on nature, as well as synergies and trade-offs informed by science and planetary boundaries. The valuation may be qualitative, quantitative or monetary, to reflect the importance, value, and utility of natural capital, recognizing that nature’s intrinsic value cannot be fully captured in economic terms.
4. REFORM SUBSIDIES AND INCENTIVE MECHANISMS: FINANCE A JUST TRANSFORMATION
The transformative change needed to reverse nature loss, climate change and inequality cannot be achieved without proper incentives and financial mechanisms. A systemic change is required in subsidies and incentives to reward business leadership to design innovative, circular and profitable business models that deliver positive long-term outcomes on nature.
5. JOIN FORCES FOR NATURE AND EMPOWER EVERYONE TO ACT: ENGAGE, ENABLE AND COLLABORATE
Transformative change requires that all public, private and civil society actors work together to deliver on commitments for nature and to implement solutions. Governments play an important role in empowering society to collaborate and act for nature.