Summary of Business Rebalance for Nature workshop – 26 October 2022
A summary of the Business Rebalance for Nature workshop held on Wednesday, 26 October 2022, 10:00 – 15:00 BST at the Business School, The University of Edinburgh and online. Part of the Global Dialogues series organised by the Capitals Coalition.
Are nature-based disclosures a gamechanger for businesses in Scotland?
The expected adoption of the UN Convention on Biological Diversity Post-2020 Global Biodiversity Framework at the COP15 Conference in Montreal this December, is likely to galvanise transformative action by governments and impact businesses responsibilities towards biodiversity. Action Target 15 for 2030 expects all businesses to: a) assess and report on their dependencies and impacts on biodiversity, b) reduce negative impacts by at least half, and c) increase positive impacts.
The workshop explored the benefits and pros and cons of nature-related disclosure and using a natural capital approach, and in particular, how the Taskforce on Nature-related Financial Disclosures Framework (TNFD) can facilitate Scottish and UK businesses to assess and report on dependencies and impacts on nature.
This is a summary of the workshop discussions and presentations.