Over half of global GDP depends upon nature and the Nature Positive Business Pledge aims to help business to restore nature and reduce business risk.
The Pledge is for businesses of all sizes and sectors. It provides core principles including the need to use the mitigation hierarchy, creating additionality, generating long-term benefits, and taking a precautionary approach.
The Pledge framework supports the creation of a plan that includes undertaking a materiality assessment, identifying a baseline, setting SMART targets, and going on to assess and iteratively build on progress.
The Pledge recognises that businesses are not all the same and that they can be at different stages of measuring and monitoring nature impacts, so it provides support yet is flexible enough for companies to reach their aspirations.
Signatories are expected to attend Pledge-related meetings, report each year, and undertake activities to support other businesses on their nature-positive journeys.
This is the first iteration of the Pledge. Over time, it will be updated in response to the businesses using it, better understanding methodologies and approaches, and will react to key events such as any requirements relating to the UN Global Biodiversity Framework.
It is very timely that the Nature Positive Business Pledge is being released during the UN Biodiversity Conference, COP 15, where there’s been a larger business presence which suggests a change of focus on who might be delivering reductions to impacts on nature.
Posted on 12th December 2022
Written by Lesley Wilson
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