2023 is the time to look at your industry’s impact on biodiversity (If you have not started yet)

The #COP15 global biodiversity conference has just closed last month and some important resolutions have been decided.

The main targets that are described in the agreement: 

  • Restore 30% degraded ecosystems and conserve and manage 30% of land and water areas by 2030 
  • By 2050 reduce tenfold the extinction risk and rate of all species 
  • Reduce risk from pesticides by at least 50% by 2030 
  • Reduce nutrients lost to the environment by at least 50% by 2030 
  • Reduce pollution risks and negative impacts of pollution from all sources by 2030 to levels that are not harmful to biodiversity and ecosystems 
  • Reduce global footprint of consumption by 2030 
  • Tackle climate change through nature-based solutions 
  • Reduce the rate of introduction and establishment of invasive alien species by at least 50% by 2030 

These resolutions represent major efforts to be done by all sectors (forestry, agriculture, urban developments, industry). In Europe, these resolutions fall very much in line with the EU biodiversity strategy and nature restoration targets that have been set in 2022. 

For industry, beyond the environmental impact assessments that are done at the moment (renewal) of permitting, the obligations linked to the Corporate Sustainability Reporting Directive (also published end of 2022) require reporting according to set standard on different Environmental, Social and Governance topics that specifically include biodiversity.  

Businesses and industry will have to assess their impacts on biodiversity. They will also need to have plans in place that guide a transition towards being nature positive by 2050, in alignment with the EU Biodiversity Strategy for 2030. These plans will have to be followed through and monitoring in subsequent reporting. 
 
Biodiversity impact must be assessed at all levels of the supply chain. For companies with large and complex supply chains this can involve data that can be difficult to sort through, as even small changes in local conditions can impact which species are naturally present, and how they are best protected. obtain, particularly for companies with a large and complex supply chain. 

Consultancy companies as TAUW will be strongly involved in supporting industries in collecting the relevant information, in identifying relevant and impactful action plans and monitoring their progress based on our expertise in this specific field. 

In terms of timing, the reporting obligations will concern listed companies with more than 500 employees (reporting for fiscal year 2024) followed by non-listed large companies the following year and SMEs as well for the fiscal year 2026 (but with more limited reporting standards). 

We look forward to engaging with you on this topic in the coming year! 

 

 

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