Where do companies stand on biodiversity issues?

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The state of nature is recognized as a critical risk across different sectors: at this moment, COP15 nature summit is underway in Montreal, with delegates from nearly 200 countries hashing out a new global deal to protect the world's struggling species. How have the world's largest companies reacted to the ongoing environmental change?

A review of the Fortune Global 500 companies showed that

• 83 % of companies have climate-related targets

• 15 % only acknowledge climate change but don't have targets

Regarding other dimensions of nature, the numbers were not as impressive:

• 51 % of companies acknowledge biodiversity loss

• only 5 % have set quantified biodiversity-related targets

• 31 % of companies acknowledge forest and seabed loss

• 9 % have set related targets

Many companies have trouble acknowledging biodiversity-related challenges because there is no standardized approach to measuring natural capital and ecosystem services. (Although there are several draft frameworks to acknowledge the issue).

Nature-related risks are more difficult to address than climate change because there is not a single unit of comparison, whereas GHG emissions are measured in tonnes of CO2. Regarding biodiversity, the world doesn’t have a single goal, such as limiting global warming to 1.5 degrees Celsius. Both, rainforests and coral reefs are critical for our planet but for different reasons and in different areas of the world.

Fortunately, many of the standards, frameworks, and regulatory systems initially developed for climate change have a great potential to be also adapted to biodiversity.

EU's Carbon Allowance (ETS) price development

UK's Carbon Allowance (ETS) price development

Reuters | At COP15 summit, U.N. announces ten nature restoration priorities through 2030. The efforts include: regreening logged-out areas of the Atlantic Forest and cleaning the polluted Ganges, restoring seagrass beds to protect endangered dugongs in the Persian Gulf around the United Arab Emirates, planting trees and savannahs for Africa's Great Green Wall, and more.

Reuters | Study: Climate change will fuel humanitarian crises in 2023. According to a study by the NGO International Rescue Committee (IRC), climate change will add to the issues already created by armed conflict and economic downturns. The agency says that the number of people in humanitarian need has skyrocketed in the last decade, approaching 339.2 million versus the 81 million seen in 2014. 

The Guardian | EU becomes the first leading economy to legislate for 'green tariff' on imports. The green tariff will be levied on goods produced with high carbon dioxide emissions.

Aljazeera | At least 120 people were killed in widespread floods in the Democratic Republic of the Congo.

Yle | Carbon sinks in Finnish forests have shrunken. Loggings and slow forest growth explain the development, according to an updated report by Luke and Tilastokeskus.

YM | Where do Finnish companies stand on biodiversity issues? The Ministry of the Environment has invited docent Mari Pantsar to survey, what is Finnish companies' stance on strengthening biodiversity. The purpose of the survey is to chart the current situation and aid in the planning of further policy.

HS | Parliament to approve the new nature conservation law.

Yle | Finnwatch report: clothing industry far from reaching climate targets.

Suomen Luonto | Vuoden turhake – terrace heater is the 'pointless product' of the year.

Reuters | G7 to provide $15,5 billion to Vietnam, helping the country transition away from coal. The deal will be the third agreement of this type reached by G7 nations as pressure mounts on rich, heavy-emitting nations to help poorer countries cope with climate change and transition to cleaner energy.

Reuters | Siemens, Maersk and more call for only zero-emission freight trucks to be sold in EU. More than 40 manufacturers, shippers and industry groups, including Siemens, Maersk and Unilever called on the EU on Thursday to mandate that all freight trucks be zero-emission models by 2035.

Reuters | HSBC stops funding new oil and gas fields as part of policy overhaul. The banking giant will also expect more information from energy clients about their plans to cut carbon emissions.

Tekniikka & talous | Construction produces 50 % of all waste – Stark starts to sell reused timber and plywood. SRV and Lassila & Tikanoja are also involved in the pilot project.

STT | S group builds a new wind farm in Eurajoki. The wind farm, consisting of 13 turbines, will be ready in 2025, and its generation capacity is equivalent to 20 % of the S group retail network’s electricity demand. 

National Ignition Facility achieves fusion ignition. The U.S. Department of Energy (DOE) and DOE's National Nuclear Security Administration (NNSA) has announced the achievement of fusion ignition at Lawrence Livermore National Laboratory (LLNL) – a major scientific breakthrough decades in the making. On Dec. 5, a team at LLNL's National Ignition Facility (NIF) conducted the first controlled fusion experiment in history to reach this milestone, also known as scientific energy breakeven, meaning it produced more energy from fusion than the laser energy used to drive it. (Science Daily)

Working in extreme heat puts strain on fetus. The fetuses of women working in the fields in extreme heat can show signs of strain before their mothers are affected, new research has shown. (Science Daily)

Producing 'green' energy from living plant 'bio-solar cells'. Though plants can serve as a source of food, oxygen and décor, they're not often considered to be a good source of electricity. But by collecting electrons naturally transported within plant cells, scientists can generate electricity as part of a 'green,' biological solar cell. Now, researchers have used a succulent plant to create a living 'bio-solar cell' that runs on photosynthesis. (Science Daily)

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