Over half of the world’s gross domestic product (GDP),
$44 trillion, is dependent on nature.
We rely on healthy, functioning ecosystems to provide the natural resources needed to support humanity and provide essential products and services.
However, the rapid loss and degradation of natural ecosystems pose a significant risk to the global population and to corporations. Meanwhile, the Intergovernmental Panel on Climate Change (IPCC) warns of devastating impacts of climate change unless transformative action is taken.
The need for change has never been so urgent, and momentum is growing in the Climate Positive and Nature Positive movement. People, too, are at the center of this — we need a just future for all.
The Kunming-Montreal Global Biodiversity Framework has ushered in a new era of action on nature, introducing 23 global targets to achieve by 2030. These include targets to:
- Reduce the loss of areas of high biodiversity importance and ecological integrity
- Conserve at least 30 percent of the world’s land, coastal areas, and oceans, and
- Restore 30 percent of terrestrial and marine ecosystems.
Investment needs to scale dramatically to restore our planet’s ecosystems, protect biodiversity, and mitigate and adapt to the impacts of climate change whilst overcoming inequalities and providing intergenerational equity. To meet its climate change, biodiversity, and land degradation targets, the world must invest a total US$8.1 trillion by 2050 in nature — only a fraction of the value that nature creates.
Business must lead to bridge the investment gap. It is no longer enough to do 'less harm'; businesses need to actively invest in doing 'more good.'
It's more critical than ever for businesses to understand and act on nature-related dependencies and impacts and provide investment where it's most needed. To date, corporate disclosure on nature has been lacking, but this is beginning to change. Corporate-focused initiatives such as the Taskforce for Nature-related Financial Disclosures (TNFD) and the Science Based Targets Network (SBTN), amongst others, highlight how understanding nature-related risks, dependencies, and impacts is as critical and urgent as climate change.
Collectively, we need to redesign what it means to do business and co-create an inclusive, restorative economy that prioritizes conservation and does no additional harm to intact ecosystems. We should also avoid take-make-waste models and support Indigenous people and local communities most impacted by the climate crisis.
The path to becoming a restorative business is a journey. We don’t have all the answers. We are still charting the path ourselves. We hope this Restorative Agenda will inspire debate and action. We take inspiration from the good work of many who are also charting this path. As the saying goes, crisis brings opportunity. Let’s use this crisis as an opportunity to create a future that is positive for Climate, Nature, and People.
Derrick Emsley,
Read our Restorative Agenda summary
here.
