The Nature Business

It’s difficult to imagine a business that doesn’t have an impact or interface with nature. In the UK, a large proportion of land is used for agriculture – currently just above 70% [1]. It is one of the most farmed countries in the world. Nature and Farming are completely intertwined; agriculture puts direct pressure on nature, whilst also being highly reliant on healthy and biodiverse ecosystems to function well, be resilient and more profitable [2]

The challenges we face are well known by businesses and consumers, and change is coming. Now, regulation and frameworks are catching up to help put nature recovery back on track.

The Modern Consumer

Modern consumers are more environmentally conscious than ever before, and increasingly aware of the biodiversity crisis that is affecting our nature. They are opting for products and services that are sustainable, ethically sourced, and have minimal ecological footprints. By integrating nature-friendly practices, businesses can cater to this growing consumer base, ensuring brand loyalty and premium pricing.

Regulatory Changes and Compliance

Governments around the world are recognizing the urgent need for sustainable practices. Regulatory frameworks are becoming stringent, with businesses being mandated to meet environmental standards. Those companies that already embed nature in their strategy are better positioned to navigate these regulatory changes.

At COP15, representatives from 188 countries agreed to the Global Biodiversity Framework (GBF), requiring organisations to disclose their impact on nature, and to consider the risks of nature loss to their businesses. 

Whilst biodiversity regulations like the Global Biodiversity Framework (GBF) will soon mandate that companies report on and mitigate their impacts on nature, voluntary frameworks like the Taskforce on Nature-related Financial Disclosures (TNFD) will also put biodiversity risk under the spotlight.

The TNFD (Taskforce for Nature related Financial Disclosure) is an international initiative designed to provide a framework for how organisations can address, manage and disclose nature related risks and opportunities. It has recently recently its draft recommendations, including frameworks to monitor and disclose nature risk using the LEAP framework:

  • LOCATE your interface (assets and operations) with nature
  • EVALUATE your business processes and activities that may impact these locations
  • ASSESS any material nature-related risks and mitigation opportunities
  • PREPARE by setting, measuring and reporting targets that align with TNFD. This means measuring biodiversity baselines and monitoring progress.

Nature Risk

The Global Economic Forum ranks Biodiversity loss as the third largest risk over the next 10 years.

Ignoring the environment could lead to tangible financial risks. Whether it’s the physical risks associated with climate change, like flooding or supply chain disruptions, or transitional risks such as changing market dynamics due to evolving customer preferences, businesses that don’t prioritise nature might find themselves unprepared.

The Nature Data Challenge

It’s clear that businesses can no longer afford to view nature and environmental concerns as mere CSR (Corporate Social Responsibility) activities. The need of the hour is to embed these considerations into the very core of business strategies. Not only does this make sense from a financial and risk perspective, but it’s also a reflection of the changing world order where nature, humanity, and business must coexist in harmony.

However, measuring nature is not easy. Unlike carbon emissions, it is harder to consolidate nature into a single metric or number. Nature is a complex web of species, with interactions and dependencies maintaining the balance. With these new measurement guidelines, organisations need to think about monitoring local impact on whole species groups, rather than just particular protected species. Robust and evidenced monitoring baselines must be in place so that progress can be measured in the long term.

Fortunately technology has revolutionised our ability to monitor nature at scale. Bioacoustic monitoring is an available tool that can deliver scalable, long-term monitoring and comprehensive measurement of key species groups.

Land managers can now gain a full picture of biodiversity, and measure trends and changes over time.

Get in touch if you’re interested in learning more about bioacoustic monitoring can help you reach your nature monitoring goals.