Delegation Diary: IPBES-12 and the Parallel Programme

Steve Wilkinson feeding back the results of the facilitated session to the broader group © Defra

Steve Wilkinson, JNCC’s Director of Ecosystem Evidence and Advice attended the event and observed a fundamental shift in business thinking at the forum. The view is that now is the time to invert the narrative on the natural environment. Previously, investing in the natural environment was seen as a social good – but now there is a realisation of the overall threat to business itself, which makes investment far more critical. The current economic system encourages businesses to convert natural resources into produced capital. However, this approach increasingly threatens medium and long-term sustainability as natural capital erodes.

Business representatives emphasised that individual companies cannot act alone without losing competitive advantage. They called for strong government regulation to create a level playing field where all businesses must protect nature. Any changes in this area need long-term stability, which requires cross party understanding and support from the outset.

Steve Wilkinson facilitating a discussion at ZSL identifying the key challenges and opportunities for business to integrate nature into their activities © Defra

The focus also needs to be prioritised. The Task Force on Nature-related Financial Disclosures is a useful framework that is encouraging businesses to look at the risks within their businesses which are being caused or amplified by degradation of the natural environment. The business forum discussions suggested that driving cross sectoral engagement to identify key nature-related risks to businesses, as well as practical steps to address them, would be a sensible starting place.

Participants stressed the need to translate abstract risks into relatable impacts: flood damage increasing insurance costs, food security affecting prices, all of which drive inflation. To enable this transition, tools and frameworks are needed to guide businesses, and indicators and metrics are needed to measure change. We need to amplify success stories to show achievability.

Further, it was noted that the research community can play a vital role in generating evidence to accelerate business transformation and in developing solutions, particularly in agricultural technology.

Overall, IPBES-12 offers an exciting opportunity to spotlight UK leadership in business-nature solutions, and support international join up. The groundbreaking Business and Biodiversity Assessment that will be approved (subject to negotiations) at February’s IPBES-12 Plenary session will provide businesses with evidence-based approaches to implement nature-positive strategies.

This business forum event represents the first step in showcasing UK innovation at the intersection of business, finance, science and nature protection.

For more information on IPBES-12 and the Parallel Programme, visit our webpage.