Businesses nationwide don’t often consider nature, but there are many ways to do your part to be more eco-friendly. Reversing nature loss is a top priority for everyone. Your business can take certain steps to be nature positive to reverse nature loss.
What is nature loss?
Nature loss involves the destruction of natural ecosystems. This can include a wide range of natural resources such as food, water, climate, crops, minerals, fiber and more. Business law regulates that businesses rely on the resources found in nature. However, natural materials and ecosystems are under attack and are being lost in record numbers every single day.
What can businesses do to reverse nature loss?
There are certain steps your business can take to fight back against nature loss. Business law gives you the right to preserve natural resources and ecosystems. You can do the following to be nature positive:
- Conduct a materiality assessment: Do a materiality assessment on both production and consumption value chains. Take into account the extraction of raw materials up to waste after the consumer gets the product. It helps you to better understand how you can reduce the impact your business has on nature.
- Assess impacts and dependencies on natural capital: Perform another assessment that examines your business’ impact and dependencies on natural capital. You can use various tools to do the assessment, such as the Integrated Biodiversity Assessment Tool or IBAT.
- Do an assessment of nature, climate and people: Assess the relationship between nature, climate and people to determine ways you can reverse nature loss. You can use the GHG Protocol to determine, manage and report your business’ climate impact.
Once you have taken these steps and conducted these assessments, you can better manage how your business uses nature. An attorney may be able to give you more ideas on how to reverse nature loss.