· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:
🗞️ Driving the news: GSK and Kering, among five corporations, have adopted nature strategies in line with Business for Nature's ‘It’s Now for Nature’ campaign, aimed at mitigating nature risks and enhancing business resilience
• This initiative aligns with the Global Biodiversity Framework to improve supply chain productivity and efficiency
🔭 The context: Material extraction and processing account for half of global greenhouse gas emissions and over 90% of biodiversity loss
• Disruptions in natural systems can lead to significant operational and financial risks for businesses, yet only 1% understand their dependencies on nature
🌍 Why it matters for the planet: A sustainable nature strategy can bolster business resilience and reduce negative environmental impacts, which is critical as over half of the global GDP depends on nature
• Protecting ecosystems is essential for climate resilience and sustainability goals
⏭️ What's next: As regulatory frameworks like the Kunming-Montreal Global Biodiversity Framework are implemented, more companies are expected to develop and disclose their nature strategies
• This movement aims to generate significant business value and job creation by 2030
💬 One quote: “It's the beginning of the snowball that there needs to be to then encourage other companies and financial institutions to themselves develop, publish and then submit their own strategies,” states Eva Zabey, Chief Executive of Business for Nature
📈 One stat: A 2023 PwC analysis valued the dependency of businesses on nature at $58 trillion.
Click for more news covering the latest on corporate governance
