Risk Management Show Biodiversity Risks: The Overlooked Business Threat
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Apr 22, 2025 Roopa Dave, a Partner at KPMG specializing in ESG and climate, and Josh Hasdell, a Senior Manager with a background in marine biology and environmental accountancy, delve into the often-overlooked risks of biodiversity on businesses. They discuss the critical link between climate change and biodiversity, urging companies to adopt comprehensive risk management strategies. Insights on frameworks like the TNFD and the significance of natural capital policies highlight how understanding ecological dependencies can not only mitigate risks but also open up new opportunities for sustainability.
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Carbon Tunnel Vision Risks
- Narrow focus on carbon risks causes businesses to overlook critical biodiversity risks.
- Biodiversity loss compounds climate impacts, worsening natural hazard exposures like flooding and wildfires.
Mapping Biodiversity Risks
- Mapping spatial biodiversity risks against company operations reveals key ecosystem dependencies.
- This approach helps companies identify impactful risks and informs conservation and mitigation strategies.
Integrate Biodiversity into ERM
- Include biodiversity risks in enterprise risk management to raise awareness and prompt deeper analysis.
- Use risk comparisons to highlight compliance, capital access, and stakeholder concerns for business relevance.