White paper: integrating nature into business decision-making
The 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP16) is around the corner with the slogan of ‘Peace with Nature’. To help support sustainability practitioners charged with integrating nature into business decision-making Little Blue Research launched a survey for sustainability professionals which aimed to better the challenges associated with this integration. The purpose of the survey was to collect and share innovative approaches for overcoming the challenges associated with integrating nature into business decisions as part of a white paper.
The white paper includes collated and anonymised results from the survey and aims to provide valuable insights to sustainability practitioners that are supporting their businesses or clients to integrate nature into business decision-making. Some of the key questions asked include:
🌱 What are the key challenges organisations face when integrating nature into business decisions?
🌱 Which frameworks are those integrating nature into their organisations aligning with?
🌱 What resources do sustainability practitioners turn to when addressing challenges?
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White paper: integrating nature into business decision-making
Citing this report:
Little Blue Research, 2024. White Paper: integrating nature into business decision-making.
Key Findings
There are unintended consequences from the introduction of legislation, with companies falling back on compliance as the main driver for action on nature
The main drivers for action on nature identified by respondents were adapting or preparing for changes in policy and legislation (88% agreement) and avoiding reputational damage (84% agreement).
The top three challenges identified by respondents vary between consultants and business. However, in all cases supply chain analysis and designing targets for nature were consistently identified as challenging
More than 40% of respondents selected supply chain analysis and designing targets for nature as challenges. Notably scoping and planning, and getting to grips with terminology were selected least, i.e., by <15% of respondents.
To overcome the challenges associated with integrating nature into business decision-making, respondents cited the use of tried and tested methods most often including engaging with experts, taking courses or helping to upskill their team
51% of organisations and 57% of consultants that have supported clients to integrate nature in their businesses were more likely to join a collaboration or membership group to help them overcome challenges.
Consultants supporting clients on nature in the last two years were more likely to identify ways of overcoming challenges than those that have not.
Most respondents from organisations (64%) had started to integrate nature into their business, however, nature integration in finance institutions was further behind
In total, 70% of respondents’ companies were members of at least one membership group or collaboration
The Taskforce on Nature-related Financial Disclosures forum & community of practice were identified most often followed by the UN Global Compact and Science Based Targets Network. Respondents were on average members of between 2-3 groups. However, 30% were not members of any membership groups or collaborations.
