Global climate scientist Johan Rockström and PwC’s Daniel O’Brien discuss the crucial interactions between nature and business. They explore the importance of businesses becoming nature positive, the risks and opportunities involved, and the need for action to foster resilience and create value amid environmental challenges.
Businesses need to recognize the dependence on nature for resources and the associated risks.
Aligning practices with safe planetary boundaries can help businesses avoid environmental risks and maintain stability.
Deep dives
Businesses' Role in Restoring Nature and Preserving Its Value
Businesses have a crucial role to play in restoring habitats and preserving the value the world gets from nature. They need to recognize the dependence of the global economy on nature and the risks associated with its degradation. Not only do businesses rely on nature for essential resources, but the stability of their operations and access to resources are also linked to the health of ecosystems. By understanding their interaction with nature and implementing sustainable practices, businesses can not only mitigate risks but also tap into new opportunities for competitiveness, cost savings, and attracting sustainable investment.
The Planetary Boundaries Framework and Environmental Systems
Scientists have developed the planetary boundaries framework to identify and quantify the safe boundaries within which human impact on Earth systems can support humanity's prosperity. The framework considers various environmental systems, such as the climate, biodiversity, and carbon sequestration capacity. It aims to avoid crossing tipping points that could lead to irreversible and abrupt changes. By aligning their practices with these safe boundaries, businesses can contribute to maintaining a stable planetary system and avoid the risks associated with environmental crisis.
Nature-Based Solutions and Opportunities for Businesses
Businesses can seize opportunities in the transition to ecological sustainability and become more competitive, robust, and resilient. Nature-based solutions, which involve working with nature to address challenges like climate change and ecosystem resilience, offer multiple benefits. They can lead to cost savings, enhanced customer demand, and compliance with future policy measures. Additionally, as the remaining natural resources become scarcer, businesses that prioritize circularity, efficiency, and zero impacts can secure their position in the market. Ignoring the boundaries and risks posed by nature degradation can result in systemic collapse and substantial economic losses for companies.
As the global economy grapples with escalating environmental decline, the imperative to protect our natural world is climbing the agenda for both governments and businesses. In this episode, hosts Lizzie and Ayesha discuss the crucial interactions between nature and business with acclaimed global climate scientist Johan Rockström and PwC’s Daniel O’Brien. Together, they explore the intrinsic and quantifiable importance of nature, offering actions for organizations not only to become nature positive and reverse nature loss, but to foster resilience and create value amid intensifying environmental challenges.
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