A landmark report has warned that the ongoing loss of biodiversity is becoming a systemic threat to the global economy and financial stability. Companies are urged to act immediately, as failing to protect nature could ultimately put their own survival at risk.
A Report Backed by Governments and Experts
The assessment has been produced by the Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) after three years of work and has been endorsed by more than 150 governments. It is expected to influence policymaking across multiple sectors worldwide.
Structural Obstacles and Financial Gaps
The report identifies several barriers to progress, including inadequate incentives, weak institutional support, limited enforcement and significant data gaps. It also highlights that current funding for nature protection remains far below the resources devoted to activities that harm ecosystems.
The Need for Transformative Change
Despite the call for transformative change, trillions of dollars in public and private funds continue to flow into nature-damaging activities. The report emphasises that companies must integrate ambitious biodiversity targets into their strategies, improve monitoring and innovate in products and services to address environmental risks.
“This Report draws on thousands of sources, bringing together years of research and practice into a single integrated framework that shows both the risks of nature loss to business, and the opportunities for business to help reverse this,” said Matt Jones, one of three co-chairs of the assessment.
Corporate Responsibility and Economic Consequences
“Businesses and other key actors can either lead the way towards a more sustainable global economy or ultimately risk extinction … both of species in nature, but potentially also their own“, the report said.
According to the report, fewer than 1% of public companies currently disclose their impacts on biodiversity. Several sectors, including construction, food, pharmaceuticals and infrastructure, are particularly exposed to risks linked to nature loss, while most companies face indirect threats through their supply chains.
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