Best practices for corporate commitment to biodiversity: An organizing framework from GRI reports

Summary

This video explores the importance of biodiversity and the role companies play in its preservation. The speaker highlights the ecological services biodiversity provides, including water treatment, air purification, and the development of new medicines. Despite its significance, biodiversity is increasingly threatened, with activities like mining and forestry contributing to its decline. The speaker presents a study that analyzed 430 sustainability reports from the forestry and mining sectors, revealing best practices in biodiversity management. The video emphasizes the need for greater corporate accountability and presents real-world examples of successful biodiversity initiatives.

Takeaways

• 😀 Biodiversity is critical to ecosystem balance and the survival of species, including humans.
• 😀 Companies' roles in preserving biodiversity have been understudied, especially from a management perspective.
• 😀 The article, co-authored by the speaker and Iñaki, explores corporate efforts to preserve biodiversity, published in *Environmental Science & Policy*.
• 😀 Biodiversity provides essential ecological services like water treatment, air purification, and food supply, as well as medicinal discoveries.
• 😀 The loss of biodiversity is alarming, with an estimated 26,000 species disappearing every year, and the rate of extinction increasing.
• 😀 Activities such as mining and forestry are significant threats to biodiversity, often causing ecological damage and health issues, including zoonotic diseases.
• 😀 The study analyzed 430 sustainability reports from the mining and forestry sectors, highlighting what companies are doing to preserve biodiversity.
• 😀 A benchmarking analysis was conducted to identify best practices in biodiversity management, categorized by managerial and technical approaches.
• 😀 The study emphasizes the importance of internal (company-based) and external (collaborative with stakeholders) actors in implementing biodiversity initiatives.
• 😀 Examples of successful initiatives include collaborations between Barrick Gold and UBC for biodiversity research in Papua New Guinea, and Mondi's partnership with environmental groups to protect ecosystems in Russia's Komis rainforests.
• 😀 The article calls for increased accountability among companies and managers, focusing on solutions and targeting measures that align with company resources and skills.

Q & A

What is biodiversity and why is it important?

Biodiversity refers to the diversity and abundance of life forms in a given ecosystem. It is essential for the balance of ecosystems and the survival of species, including humans, by providing crucial ecological services like water treatment, air purification, food supply, and even the development of new medicines.

What has been the role of companies in preserving biodiversity?

Companies have only recently started focusing on preserving biodiversity, with few studies conducted from a management perspective. This article explores the actions taken by companies in the forestry and mining sectors to address biodiversity conservation.

What negative impacts are caused by the destruction of biodiversity?

The destruction of ecosystems and the loss of biodiversity are linked to several negative impacts, including the rise of zoonoses—diseases transmitted from animals to humans, such as Ebola, AIDS, and COVID-19.

How many species are estimated to disappear each year?

It is estimated that more than 26,000 species disappear each year, with one species lost on average every 20 minutes.

What methodology did the authors use to assess companies' biodiversity practices?

The authors conducted a systematic qualitative content analysis of 430 sustainability reports from the forestry (151 reports) and mining (279 reports) sectors. They then performed benchmarking to identify best practices reported by companies based on the GRI (Global Reporting Initiative) standard.

What is the purpose of the benchmarking analysis conducted in this study?

The benchmarking analysis aimed to identify best practices in biodiversity management and to develop a model based on two axes: one focusing on managerial practices and the other on technical practices. It also examined the roles of internal and external stakeholders in these efforts.

What are the two key dimensions of the model developed in this study?

The model developed in this study includes two key dimensions: a managerial dimension, which focuses on policies, management systems, and company leaders' responsibilities, and a technical dimension, focusing on the role of experts and technicians in biodiversity management.

What types of initiatives for biodiversity preservation do companies implement?

Companies implement a variety of initiatives, including the establishment of ecological corridors to link habitats, the development of biodiversity action plans, certification standards, and the creation of protected areas in collaboration with NGOs.

Can you give examples of successful collaborations between companies and other organizations?

Yes, one example is the collaboration between Barrick Gold, a mining company, and the University of British Columbia (UBC) to document and protect the flora in Papua New Guinea. Another example is Mondi, a forestry company, working with environmental groups to protect the fragile ecosystem in the Komis rainforests in Russia.

What is the main message and conclusion of the article?

The article emphasizes the importance of both managerial and expert involvement in biodiversity conservation. It calls for greater accountability from companies and managers and focuses on solutions rather than problems. The study highlights the need for businesses to tailor their biodiversity preservation efforts based on their specific resources and skills.