Business knows nature positive is good for bottom line

Friday 11 Oct 2024

 
Leading Australian businesses know that what’s good for nature is also good for their customers, shareholders and bottom line. That’s why more than 20 organisations including Blackmores, AACo, Wesfarmers, Bega Group, Qantas, Rest Super and Lion Group have co-founded Nature Positive Matters.

This initiative creates a network of leaders who recognise the growing international importance and economic value of looking after nature. The network was launched this week, on the eve of the Global Nature Positive Summit, which attracted world leaders, environmental groups, First Nations Peoples and others together to drive private investment in nature repair.

Nature Positive Matters members will work together to:
  • support business uptake of nature-related reporting and data collection
  • pilot programs to inform policies and investment decisions that are good for nature
  • develop tools to help investors understand whether an economic activity is environmentally sustainable
  • help other businesses to take action to protect and repair nature.
Being part of Nature Positive Matters will provide businesses with the confidence to take action on nature and efforts to reverse biodiversity loss. The founding members are already leading the way on nature reporting and are working to embed nature in their governance and business strategies.

In 2022, countries signed up to the landmark Kunming-Montreal Global Biodiversity Framework that has a goal of halting and reversing biodiversity loss and environmental damage. That’s what being nature positive is all about.

It comes as more than 20 Australian businesses and financial institutions have also signed up to report on their nature risks and impacts using Taskforce on Nature-related Financial Disclosures (TNFD) international standards.

To help businesses do their nature reporting, Australia is also putting together the data and information they need. We are currently working on a natural capital accounts framework with the United States and Canada, which will tell us the value of the natural assets our economy relies on – such as forests, soils, grasslands and mangroves.

“It’s fantastic to see some of Australia’s leading businesses working to look after nature, and inspiring others to do the same, " said Minister for Environment and Water, Tanya Plibersek. “Nature Positive Matters will help business understand and measure their impacts and their dependence on nature. As we know, you can’t manage it if you don’t measure it."

Mark Rogers, Chief Executive Officer of New Forests, said, “We’re proud to join some of Australia’s leading businesses as we collectively work to measure our impacts and dependence on nature and provide guidance to other stakeholders. We all need to start somewhere, and the Australian government’s launch of Nature Positive Matters is a positive first step.”

Mr Rogers added, “The rising emphasis on nature positive is not just about compliance and reporting for investors, it will become a market differentiator and a significant investment opportunity.”

Source: Australian Government


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